Receivers have taken control of the Republic Hotel in Sydney’s CBD only days after Virtical signed to sell the property to Chris Thomas for a major loss, and as the group is accused of not paying staff Super. Under the stewardship of Mark Toma and John Palesty, Virtical stormed the pub scene in 2023, prominently […]
Melbourne families have listed Fitzroy’s multi-level Hotel Fitzroy, tipped to attract investors and owner-occupiers. Located minutes from the Melbourne CBD, opposite the Atherton Gardens estate, the pub is surrounded by entertainment precinct bars, restaurants and shops, seeing high pedestrian traffic and consistent patronage. The five-storey building is on a 662sqm lot and incorporates indoor and
In the spotlight developer Virtical has offloaded the Republic in the Sydney CBD to industry veteran Chris Thomas for a significant loss. After bursting into the picture in 2023, spending over $125 million in a matter of months including more than $40 million for the Republic, vexed property developer Virtical has accepted $32 million for
The party is winding down for Jon Adgemis’ Public Hospitality Group (PHG), as a major lender calls in receivers and managers on five venues in the collection. Last week FTI Consulting’s Vaughan Strawbridge and Joseph Hansell stepped in, under security held by TREA ST Pty Ltd as trustee of the Public Group Security Trust. BDO’s
Weighing into the recent return in pubs activity, Australian Venue Co has struck its first major deal under its new majority owners, buying 10 venues from Hallmark Hospitality in SEQ. The Melbourne-based group has paid around $50 million for the ten pubs and nightclubs, at Brisbane, Surfers Paradise and the Gold Coast. In the deal
Listed real estate investment powerhouse Charter Hall and teamed again with Hostplus to attempt a takeover of the country’s last remaining listed pub landlord, Hotel Property Investments (HPI). Charter Hall Retail REIT (Real Estate Investment Trust) touts its interest in retail assets backed by long leases, counting shopping centres, convenience stores, childcare and petrol stations.
The Redcape reshuffle rolls on with the group’s twice-owned Wattle Grove Hotel becoming the next step in the northward expansion of Melbourne-based Francis Group. This is the second Redcape Hotel Group (RHG) acquisition by the southerners, headed up by Tom Francis, following their purchase of the Kings Head Tavern in South Hurstville earlier this year.
Redcape has continued the portfolio hygiene with divestment of the Vauxhall Inn at Granville to the growing Orion Hotels. Established in 1852 on a corner of Parramatta Road, the two-storey heritage-listed hotel was rebuilt in the 1930s in the distinctive Art Deco style. It counts a public bar area, bistro, accommodation, parking, and modern gaming
The venerable Chatswood Club, in the heart of what has become one of Sydney’s north shore hubs, is selling its two-level site in the hope of preserving its future. Established in 1954, it was previously known as the Chatswood Businessmen’s Club before a name change to broaden its appeal. Originally the club was within a
The DeAngelis family has listed the blooming Raby Rose Hotel and shopping centre in Sydney’s booming south-west corridor, as they prepare for their next endeavours. Raby Rose – formerly the Raby Tavern – is a single-storey premise forming part of a small retail shopping centre on 8,229sqm, and the only pub in the precinct, enjoying
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