Over $1 billion in pub assets changed hands in New South Wales and Queensland in FY19, according to a report analysing every transaction for the year. NSW rebounded in the final quarter to record $860m in industry sales for the year, across 66 transactions, while Queensland recorded $223m across 22 transactions, discounting the $200m portfolio […]
Entertainment Venues Australia has been put into liquidation, leaving in doubt the future of its five operations in the South Australian capital. News initially broke that two of its pubs, Kent Town’s Royal Terrace Hotel and The Glenelg Pier Hotel, had closed due to a trading halt, with each displaying “not open today” signs for
Woolworths has finally announced strategy to divest its contentious Hotels division, to be coupled with its key liquor division, leaving the future of Australia’s biggest drinks-hospitality group dithering. ASX-listed Woolworths (WOW) today released details of its plan to merge Endeavour Drinks and Australian Leisure & Hospitality Group (ALH) into a combined entity, Endeavour Group Limited
Speculation is rife Woolworths and the Mathieson family are poised to announce sell-off of the $3.6 billion ALH pubs portfolio. Senior management of Woolworths Group and Bruce Mathieson Jr are believed to be back at the negotiating table, discussing plans to de-couple the ‘Fresh Food People’ from the hotels business, motivated by the unfavourable public
Coles’ Spirit Hotels has finally announced its much-anticipated joint venture proposal with Australian Venue Company (AVC), for control of 87 pubs in three states. ASX-listed Coles (ASX: COL), recently de-merged from parent company Wesfarmers, has entered into an incorporated joint venture with a wholly-owned subsidiary of AVC, to be known as Queensland Venue Co (QVC).
Redcape has announced its first results since its listing in November, showing strong outcomes on the back of a string of acquisitions. Redcape Hotel Group Management Ltd – responsible entity for publicly listed Redcape Hotel Group (ASX:RDC) – announced results for the first six months of FY19, ending 31 December 2018. Highlights of the “1H19”
Ferrier Hodgson has issued a warning that pub rents in some states are headed for a “revision” as changing environments and uncertain property prices continue. David Kidman, Ferrier Hodgson (F-H) director in South Australia, posted a review of the sector at the conclusion of 2018 forecasting that “Rent revision looms for local landlords”. The advisory
REVISION ‘LOOMS’ ON VALUES AND RENTS: FERRIER-HODGSON Read More »
Hot on the heels of Redcape’s long-awaited IPO, Queensland pub king Godfrey Mantle has divulged plans toward floating his Mantle Group portfolio mid-2019. Mantle owns a string of successful Queensland operations, including five Pig ‘n’ Whistle pubs, one of which shares domination of Brisbane’s bustling Queen Street Mall with another of his venues, Jimmy’s on
The long-awaited IPO of Redcape Hotel Group seems destined to hit the trading floor 30 November, after success securing pre-launch commitments “well in excess” of the minimum funding required. ASX-listed investment bank Moelis Australia announced a fundraising roadshow in October for Redcape, initially citing plans to raise up to $100m through securities at $1.13. But
The long-awaited joint venture between Coles’ Spirit Hotels and KKR’s Australian Venue Company is one step closer, with lodgement of the paperwork this week to Queensland’s Office of Liquor & Gaming Regulation. Rumours have circled for much of this year that Australian Venue Company (AVC), majority owned by American venture capital behemoth Kohlberg Kravis Roberts
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