An investment fund has snapped up Stanmore’s Salisbury Hotel, boasting some of the strongest opportunity seen in a year of competitive real estate transactions. The three-level freehold on the outskirts of Sydney sold less than 48 hours after its national tender campaign concluded last week, for a price market sources say was around $8.5 million. […]
Surry Hills cornerstone, the Royal Exhibition, has sold amid hot competition in the city fringe. The multi-level freehold going concern adjacent to Central Station was divested by private owners Michael Wiggins and Joanne Cassar, as part of plans to finance their purchase of Iris Group’s Oxford Hotel – announced by PubTIC on Friday. The Sydney
Last Monday night St.George bank conducted its 2015 Pub Design Tour, bussing a group of inquisitive publicans around some recent top-notch pub renovations. As long-term partners with the AHA NSW, St.George puts on the event to back up its claims of kinship with hospitality and the challenges of keeping venues fresh. One of those on
PUB DESIGN TOUR SHOWCASES RECENT TOP VALUE-ADD RENOS Read More »
The financial climate and frenetic transactional activity in real estate this year has strengthened some emerging trends. PubTIC spoke to Colliers International’s Guy Wells on trends and influences. The company was founded in Australia in 1976, and now boasts 502 offices in 67 countries and global perspective. PubTIC: What influences have you seen most
In a year peppered by top-dollar transactions, Iris Group has executed one of the biggest gaming pub sales with the Oxford Hotel. The landmark Drummoyne hotel and adjacent retail property have sold for around $34 million in a clear indication the hot market continues to sizzle. Speaking to PubTIC, Iris CEO Sam Arnaout said conditions
Funds manager Quadrant Private Equity has gobbled up Urban Purveyor Group for a cool $200 million, with plans for rapid expansion. UPG comprises 11 Bavarian Bier Cafes, as well as Ananas Brasserie and The Cut bar & grill in The Rocks, Swine & Co, and four Sake restaurants. The Australian reported Quadrant chief executive Tom
URBAN PURVEYOR GROUP SELLS FOR $200m TO PRIVATE EQUITY Read More »
The auction of one of Rockhampton’s most beloved hotels has achieved a “good result”, with locals triumphing over a room of registered bidders. The hammer fell in Brisbane’s Eagle Street auction house this morning, ushering new owners to the historic Heritage Hotel for $1.4 million. The 110-year-old hotel fell into strife and closed the doors
The looming presence of the partnership between Moelis & Co and hotelier Nelson Meers has stepped into the light, with the entity disclosing a play at the prized Redcape portfolio. Purchased in a fire-sale situation by New York hedge funds Goldman Sachs, York Capital and Värde Partners following the GFC, Redcape Hotel Group (RHG) currently
Popular Melbourne franchise pub Bridie O’Reilly’s has sold to a local developer in a prime location example of opportunity sales taking place in the capital cities. Freehold owner John Connellan developed the business for the Bridie O’Reilly’s group nearly two decades ago, and recently put the property to market with development approval for a residential
DEVELOPER “HUNGER” DRIVES BIG PRICE FOR BRIDIE’S Read More »
The new board of Lantern Hotel Group has begun its portfolio shake-up, announcing the divestment of three “non-core” assets from its books. The ASX-listed Lantern (LTN) released news yesterday it would be selling three of its 17 pub assets, amid its “strategic review of the business”. Two of the three pubs are freeholds: the Brisbane
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