Property

NEW STAR OVER REDCAPE’S HISTORIC ASPLEY

Posted on August 28th, 2023 by Clyde Mooney
Redcape’s historic and beloved Aspley Hotel in Brisbane’s north has sold off-market to local operators Star Hotels. The Royal Exchange Hotel was built on the site in 1875, before the current building, designed by architects Addison and Macdonald, replaced it

KKR OFFLOAD AVC IN BILLION-DOLLAR DEAL

Posted on August 25th, 2023 by Clyde Mooney
Global investment giant KKR has formalised an agreement with alternative investment firm PAG for purchase of its controlling share in Australian Venue Co (AVC) in a billion-dollar-plus deal. Today’s announcement finalises a process that began nearly a year ago with

REDCAPE REAPS REWARDS AT THE GROVE

Posted on August 25th, 2023 by Clyde Mooney
Mere days after the announcement Redcape was divesting two of its collection in north Queensland, a sale has already been confirmed on one, Mackay’s The Grove. Last week the high-profile group listed The Shamrock and The Grove hotels in Mackay,

THE REPUBLIC SOLD TO DEVELOPER

Posted on August 21st, 2023 by Clyde Mooney
An up-and-coming developer has bought Sydney’s famous The Republic, prompting speculation the pub may see redevelopment. The trophy hotel has reportedly sold for around $40 million to diversified property group Virtical, which it’s said is seeking to capitalise on its

GDM GROW IN WINE COUNTRY

Posted on August 8th, 2023 by Clyde Mooney
Matt Coleman and co have furthered the stable of strong regional operations with purchase of Hotel Cessnock, in the Hunter Valley. Built 1908, the pub is a grand country hotel in a prominent central site in Cessnock, close to the

JOHNSTON HITS THE TRIFECTA WITH ALEXANDER

Posted on July 28th, 2023 by Clyde Mooney
Funds manager CEO Byram Johnston has continued his move into the pub sector, with JBHG picking up its third in central west NSW in less than a year. Byram and Deborah Johnston have owned and run a farm in the

SOUTHERNER HEADS NORTH BY THE GRACE OF ROCKY

Posted on July 24th, 2023 by Clyde Mooney
A Melbourne syndicate has sold its Gracemere Tavern in central Queensland to an expanding NSW-based operator. Stephen Beaumont’s Cook Beaumont and Partners listed the under-management freehold going concern hotel in Rockhampton in the first half of 2022, looking to streamline

BONDI PUB TOPIKOS TO A NEW-GEN RYAN

Posted on July 21st, 2023 by Clyde Mooney
A new generation Ryan has stepped up to become the new owner of Topikos – one of the very few pubs on the world-famous Bondi Beach strip. Point Group – the former Icebergs Group – holds well-known operations around Sydney,

KELLY’S DOUBLE-SHOT IN SCONE

Posted on July 14th, 2023 by Clyde Mooney
Kelly & Co Hotels has exited Scone, selling the Belmore Hotel to the same growing Hunter Valley group that recently bought the nearby Royal Hotel. The Belmore is an impressive suburban local, with sandstone exterior and original pressed tin ceilings.

BEN MAY AND TMG SELL HISTORIC MANLY WHARF

Posted on June 28th, 2023 by Clyde Mooney
Ben May and TMG Developments have sold the landmark Manly Wharf and Hotel to the owners of Brisbane’s Howard Smith Wharves. The recognised international landmark was one of the first purchases for TMG Developments, led by Robert Magid, who picked