Marking the cold end to fervent and optimistic summer trade, the month of February saw a succession of insolvencies and sorry locals. Early in the month Newcastle pub The Edwards closed without warning, leaving patrons shocked and upcoming event bookings scrambling. A notice to ASIC (Australian Securities and Investments Commission) explained that a meeting […]
Hot on the heels of Charter Hall and Hostplus’ successful play on HPI, SEQ Hospitality has secured the keys for listed publican landlord Eumundi Group. Eumundi began as a craft brewery named after its Sunshine Coast location, going on to list on the ASX in 1989 (ASX:EBG). It amassed freeholds including South Bank’s Plough Inn,
Listed pub landlord Hotel Property Investments’ shareholders have voted with their balance sheets to accept the protracted, $760 million attempted takeover by Charter Hall and Hostplus. HPI (ASX:HPI) holds a stable of pubs in multiple states, totalling around 60 sites. The majority are leased to AVC and its partnership with Coles, QVC (Queensland Venue Co).
Hotel Property Investments is embracing a strategy in line with its moniker, looking to a raft of opportunities in a virile market in a fight-back against the attempted takeover by Charter Hall and Hostplus. After an initial bid in September, the revised offer from the listed Charter Hall retail fund and superannuation player Hostplus effectively
SEQ Hospitality, headed by rich-lister Nick Politis, has put up a $77 million bid for listed publican landlord Eumundi Group, but one major shareholder and hospitality player is holding out. Eumundi began as a craft brewery named after its location, within the Sunshine Coast, and went on to list on the ASX in 1989 (ASX:EBG).
The strings are unravelling on the rise and fall of the skyrocketing Virtical Group, as the ATO unleashes the first of what could be many fines for improper tax claims. An audit, which is the first to emerge from what are thought to be ongoing Australian Tax Office (ATO) investigations, was obtained by the Australian
Receivers have taken control of the Republic Hotel in Sydney’s CBD only days after Virtical signed to sell the property to Chris Thomas for a major loss, and as the group is accused of not paying staff Super. Under the stewardship of Mark Toma and John Palesty, Virtical stormed the pub scene in 2023, prominently
The party is winding down for Jon Adgemis’ Public Hospitality Group (PHG), as a major lender calls in receivers and managers on five venues in the collection. Last week FTI Consulting’s Vaughan Strawbridge and Joseph Hansell stepped in, under security held by TREA ST Pty Ltd as trustee of the Public Group Security Trust. BDO’s
Listed real estate investment powerhouse Charter Hall and teamed again with Hostplus to attempt a takeover of the country’s last remaining listed pub landlord, Hotel Property Investments (HPI). Charter Hall Retail REIT (Real Estate Investment Trust) touts its interest in retail assets backed by long leases, counting shopping centres, convenience stores, childcare and petrol stations.
Endeavour Group has posted its full year results for FY24, detailing cost-cutting and portfolio hygiene in challenging economic times, yet seeing falling investor sentiment. ASX-listed Endeavour (ASX:EDV) is the holder of 350 pubs, retail outlets Dan Murphy’s and BWS, and assorted other hospitality-related assets. The report cited a dip in net profit, in line with
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