Melbourne’s tightly-held freehold market has held to precedent, with the Park Hotel in Abbotsford selling at auction for more than 140 per cent of reserve, at a razor-sharp yield. Built in 1864, the Park sits on a big corner block on Abbotsford’s Nicholson Street, just four kilometres from the heart of Melbourne. For the past […]
John Feros’ JDA Hotels and associates have executed a sale and management deal on top gaming pub the Allawah Hotel for around $30 million. Located on 1,274sqm on a corner of Railway Parade, beside the refurbished Allawah train station, the Hotel is ranked #140 on the Liquor & Gaming list of NSW venues, up ten
Iris Capital has nailed another development play, selling its DA-approved Crown Hotel in Parramatta to Coronation Property, in a transaction worth $50 million. Iris bought Crown Parramatta mid-2014, with principal Sam Arnaout negotiating the deal himself with vendor Rod Salmon for the Church St pub as well as Homebush’s Wentworth Hotel. In June 2015 Iris
Fitzroy’s thumping Tankerville Arms Hotel is to be sold via auction, with price expectation exceeding $20 million. The Tankerville sits on 1,087sqm on the prominent corner of Nicholson and Johnston Streets Fitzroy, just two kilometres from the heart of Melbourne. Built in 1865, the two-storey pub incorporates a bar, bistro, upstairs function room accommodating 120-pax,
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Sydney publican Mark Duggan has teamed with Gary O’Donnell to secure the large-format North Nowra Tavern for close to $12 million. Duggan operates Burwood’s Avondale Hotel, and O’Donnell brings local knowledge, having formerly run Nowra’s Archer Hotel, before selling it to ALH. The sale is a continuation of the expansions being seen by metro operators,
Small-scale partial investors will revive the magnificent Federal Hotel in Deniliquin via a ‘fractional investing’ scheme driven by pioneering entertainment company Omecca. The Federal Hotel, on the town centre corner of Napier and Cressy street in Deniliquin, was built in 1897 after a strike by the local fire brigade saw firefighters watch as the exiting
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The Brisbane Valley Tavern and Centre have come to market, offering five tenancies and underlying gaming value in one of south-east Queensland’s thriving regions. The Brisbane Valley Centre in Fernvale is a 3,174sqm block incorporating the Tavern and Motel, as well as retail tenants including a Pizza Hut, netting annual rental income close to $300k.
Laundy group has capitalised on the market for coastal freehold properties, divesting the big-format Bateau Bay Hotel for circa $13m to a growing local operator. The Laundy Hotel Group purchased the Bateau Bay Hotel (BBH) in early 2015 for around $11m, almost immediately after buying the idyllic Tea Gardens Hotel, since on-sold to patriarch Arthur
A Gold Coast syndicate has listed the under-management Forrest Beach Hotel, Motel and Caravan park on a massive block overlooking the beach outside of Townsville. High profile automotive dealer Brett Frizelle, lawyer Dwane Bugden, and publican Neil Haslam have owned the site since 2009. They bought with intention to develop the 22,000sqm (2.2-Ha) parcel and
Singo and Dixon’s Australian Pub Fund is one step closer to exit with the listing of Marrickville’s Vic on the Park in a freehold-starved Sydney market. Occupying a 1,247sqm block on a prominent corner opposite Enmore Park, the former The Vic Enmore was purchased by Australian Pub Fund (APF) and operational arm Riversdale in 2012
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