MA Redcape Hotel Fund has reversed its run of divestments with purchase of three hotels in coveted southeast Queensland, to further its portfolio refresh and optimisation. The prior calendar year continued a shake-up of the Redcape stable that saw multiple assets divested. In April the group sold its Crescent Hotel in gaming heartland Fairfield to […]
The Redcape reshuffle peaked in December with sale of two of its big-ticket gaming hotels to Sam Arnaout’s Iris Capital. Transaction of the Cabramatta Hotel in Cabramatta and El Cortez in Canley Heights is reported at more than $180 million. The two pubs hold a combined 17K sqm and boast approved development upside. The Cabramatta
Leading Sydney operator Solotel has emerged as the new operator of the majority of the Public Hospitality portfolio recently into receivership, adding three inner west pubs to the collection. Formerly high-flying dealmaker for tax advisor KPMG, Jon Adgemis, came unstuck during a rapid rise to two-dozen hotels, as construction costs and interest rates rose following
One of Glebe’s historic watering holes has a new Friend – for the third time in six years, as Ray Reilly and co take on the inner west pub, following a public sale by Marcello Colosimo’s Momento Hospitality. In 2022 Momento undertook a rapid expansion of its inner west footprint, buying the Friend from Wallaby
Bill and Mario Gravanis’ Oscars Group has acquired Sydney’s famous Luna Park, with plans to further increase its hospitality appeal. Enjoying a picturesque and totally unique location on the shores of Sydney Harbour, the historic Luna Park Sydney is a sprawling operation with many facets. It features 17 amusement rides, the heritage-listed Coney Island, the
Hakfoort Group has bought the resurrected Country Club Hotel, settling in with plans and a prompt name change in tune with the precinct. Located on Cunningham Street in the heart of Dalby’s town centre, on a prominent and expansive 2,073sqm lot, the Hotel is an historic landmark of the community. Built 1912, it was originally
The Turnbull family’s Investment Management Group has taken the deeds for the McElhone family’s idyllic Cabarita Beach Hotel in northern New South Wales. Positioned literally metres from what has more than once been voted Australia’s #1 beach, the Cabarita Beach is one of only a handful of beachfront pubs in the country, and the only
The historic Edinburgh Castle will find a home in Good Beer, sold with vacant possession as Solotel winds up its operation of the Sydney CBD landmark. Established in 1885, on the corner of Pitt and Bathurst Streets, ‘the Eddie’ was famously home for a time to iconic Australian writer and poet Henry Lawson, who inhabited
The Hurley Hotel Group has announced the acquisition of the iconic Barker Hotel, culminating a two-decade rein for the Fassina family. The family-owned South Australian hotel group currently operates a portfolio of nine hotels, including the renowned Arkaba, Hotel Royal, Marion, and Torrens Arms. Now notching up ten venues, the deal marks a strategic expansion
Tilley & Wills have divested their large-format Richmond Inn Hotel to a local ‘Lion’ as the intrepid operators forge north. Popularly known as the Ricky Inn, the historic suburban hotel was built 1864, occupying a 2,996sqm corner opposite the train station, in Richmond’s main commercial and retail precinct. It provides public bar and wagering, commercial
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