The auction of “trophy asset” the Imperial Hotel smashed price expectations, as Victoria’s hot commercial market sees values rise and yields fall. Located across from Parliament House, and a popular haunt for off-duty politicians, the sale of the exquisite 1858 corner pub has drawn a lot of public interest and hammer-time drew well over 200 […]
One of the best-known pubs in Sydney’s Paddington has hit the market, as development in the area and market conditions prove irresistible. Speaking with PubTIC, long-time operator of the Light Brigade Hotel, Dean Haritos, said the temptation to test the market was largely prompted by his increasingly diverse business interests. “I’ve had a number of
LIGHT BRIGADE HITS MARKET RUNNING AMID BIG POTENTIAL Read More »
The Urban Purveyor Group is planning “aggressive” growth likely to see initiatives such as the franchising of its popular Bavarian Bier Cafes. Late 2014 UPG appointed veteran Tom Pash as CEO, with founder John Szangolies assuming the role of executive chairman. Pash has previously been CEO of a US REIT that amassed a $2bn hospitality
After 24 years of ownership, former rugby league great Craig Young has sold his Wollongong pub. Young played as prop-forward from 1977 to 1988 for the St George Dragons, which included two Premiership wins, including one as Captain at age 22. In 1988 he was awarded Life Membership. He was selected for the NSW Blues
Windsor’s The Rex has hit the market as perhaps the best-value sale of the year to date. Offering potential highlighted by 15 indoor EGMs and “extensive outdoor area” on a generous block, the 20-year leasehold of the Royal Exchange Hotel is not short of opportunity for the entry-level fixed price of $550,000. The Rex has
Hot on the heels of his sale of the Newington Inn Hotel to Solotel, Tim Condon is preparing to bring an old hotel back to Balmain. Well versed in the art of Balmain, living within the narrow streets and sending his kids to the local school, Condon has a history of nailing the re-branding of
‘No Pokies’ pub baron Chris Morris is expanding his massive plans the reinvigoration of tourism in northern Queensland. Following his $6.25 million purchase of the Orpheus Island resort in 2011 and subsequent $70 million purchase of the Townsville casino last year, the founder of Computershare and owner of Colonial Leisure Group is expected to announce
COLONIAL LEISURE GROUP BOSS TRANSFORMING TOP-END Read More »
After months of negotiation, Paul Irvin Hotels has sold to a hungry residential developer in a deal worth $50 million. The freehold going concern divestment of the Bull & Bush Hotel is one of the biggest pub sales in years, with Dyldam Developments tempting the long-standing hotel group into parting with the Baulkham Hills landmark.
Independent Pub Group has completed its strategic exit from Queensland, selling the last of its hotels in that State to the up and coming Raw Group. The Commercial Hotel Nambour was the seventh and final asset sell-off for IPG, with the freehold going concern passing to Raw for $3.5 million. The divestment campaign included the
RAW GROUP GOES COMMERCIAL WITH PURCHASE OF IPG PUB Read More »
Two mining town pubs have hit the market, with ‘goldmine’ potential amid development in the area. The freehold going concerns of the Denison Hotel and Merinda Village Hotel in the Bowen region are both due to be auctioned on May 15. Both boast attractive features and potential and have benefited from significant spit n’ polish
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