Melbourne has seen two more hotel freeholds sell as investments ‘with potential’ as development prospects continue to be weighed against hospitality businesses. The deeds to the Hawthorn Hotel and South Melbourne’s Palmerston Hotel have sold to entities interested in exploring options for the commercial sites that may not include the existing pubs. Swinburne University […]
TWO MORE MELBOURNE PUBS SELL AS INVESTORS EYE VALUE Read More »
Patrick Gallagher has snapped up Hurstville’s Tiger Bar in a play to round out his growing Sydney-wide portfolio. The king of the Irish bars has purchased the southern Sydney favourite for a reported $28 million from a syndicate that included the Nasser family. Gallagher told PubTIC the Asian-themed pub, with its popular Korean restaurant, would
Developers Frasers Property and Seksui House are set to proceed with the next stage of the Central Park on Broadway project – on the old Carlton Brewery site, atop the historic Australian “Abercrombie” Hotel. Having purchased the site in 2007, Frasers has undertaken massive development with the striking and innovative Central complex. It later sold
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Melbourne career publican Kevin McNamee is parting with his beloved Clare Castle Hotel, after 40 years’ ownership. McNamee has owned the since the 70s, but sold the leasehold business 15 years ago after a quarter-century operating it himself. The current lease options end in five years’ time. The much-loved watering hole in the increasingly gentrified
Smart money continues to stalk Australian pubs, with rumours Charter Hall and ALH are contemplating a snap buy of Redcape before it goes to the open market. Business Spectator reported that Charter Hall Group may team up with the country’s largest publican, the 75 per cent Woolworths-owned Australian Leisure & Hospitality (ALH) to offer $650
Making the most of Kings Cross’ reluctant transformation to residential, cashed-up Iris Capital Group has acquired three adjacent blocks on Darlinghurst Road. It has been revealed Sam Arnaout’s Iris Group has completed the purchase of the Empire Hotel – adjacent to its recently acquired backpacker lodge – adjacent to The Bourbon, which it purchased from
A Perth pub has hit the market – two years ahead of its opening the doors. Slated as part of the in-progress Lakelands Private Estate, the Lakelands Tavern is being offered for Expressions of Interest by national property developer Peet Limited. The purpose-built hotel will be on a generous block within the burgeoning Lakelands Town
Just a month after being closed by OLGR, Erskineville’s Imperial Hotel has sold to industry stalwarts Fraser Short and AHA NSW President Scott Leach. The ‘Spicey’ former operators of the famous LGBTI-community venue operated the leasehold business for just three months before a string of breaches and two closure orders forced their removal. Facing a
The burgeoning Dixon Hospitality Group (DHG) has swooped on two more Melbourne pubs as it continues to optimise its portfolio. The Middle Park Hotel is just a couple of kilometres due south of Melbourne’s CBD, and the Newmarket Hotel is in adjacent St Kilda, both on Port Phillip Bay. Speaking to PubTIC, DHG director Mike
The winning run of top gaming pubs continues with another coveted freehold going concern coming to market. Situated on a large block in the fast-growing district of Blacktown, the Lalor Park Hotel is likely to become a top-100 gaming venue, with upside potential atop its current position of #153 on the OLGR list. The area’s
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