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
After years of speculation and a change of ownership, Redcape has begun steps toward an Initial Public Offering in December. The prominent pub group was acquired mid-2017 by Moelis Australia after several rumoured divestment considerations by its former owners, US hedge funds York Capital and Värde Partners, including a mooted IPO. Moelis (ASX: MOE) quickly
ALE’s results for FY18 herald continued strength in the Australian pub sector, showing strong valuations, record low debt and market-leading returns for investors. Listed entity ALE (ASX: LEP) is the biggest landlord to Australia’s biggest publican, the majority Woolworths-owned Australian Leisure & Hospitality (ALH). All of ALE’s 86 properties are ALH-tenanted pubs, with 83 of
ALE FY18 RESULTS MEASURE CONTINUED SUCCESS IN PUB BUSINESS Read More »
The much-rumoured joint venture between Coles’ pub arm and a big operator is close to a deal with KKR’s Australian Venue Company, with the major hurdle fast approaching. Speculation has emerged about a broad change to the fleet of Spirit Hotels, sparked by Coles’ and parent company Wesfarmers’ continued unrest with exposure to poker machines,
The high-profile Royal Commission into Australia’s banks has turned the spotlight on commercial practices – particularly the wake of foreclosures on pubs by Bankwest post-GFC. The controversial practice of ‘non-monetary default’ clauses has been in discussion at the Commission, prompted by testimony of former Bankwest customers owing commercial loans on hotels. Testimony has centred on
The latest Rich List has been announced, featuring a dozen debutants including pub king Justin Hemmes. BRW first published its Top 200 Richest People in Australia in 1984, and counted (the late) John Hemmes and Merivale Hemmes, parents to Justin and Australia’s richest hospitality empire. John and Merivale had an estimated wealth at the time
The battle of the supermarket pub groups has taken another twist with Wesfarmers’ mooted plans to shed Coles from its portfolio, as Aus Venue Co looks to step up the value of its operations. Eleven years after buying and reviving the national supermarket chain, Wesfarmers has announced plans to divest most or all of Coles,
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