In a further display of market diversity, Laundy Group has purchased an idyllic and “real value” hotel on the NSW Central Coast. Growing its existing regional portfolio, which already includes pubs in Wagga Wagga, Dubbo, Orange and most recently Long Jetty, the Laundys have purchased the only hotel in Tea Gardens – the Tea Gardens […]
Iris Group has kicked off 2016, purchasing a Parramatta hotel “as a development” for $38 million. Located a stone’s throw from Rosehill Racecourse, the Mercure Parramatta boasts 165 rooms atop a bar, recreation and function spaces. The Australian implied Iris paid too much for intentions to continue operation in its current form, and reported “sources”
One of the most acquisitive pub groups of 2015 has burst into NSW with the purchase of the Drink’n’Dine portfolio. After rapid expansion including the lump purchase of all 17 pubs and head office operations of Open Door Pub Co (ODPC) in September, Dixon Hospitality Group (DHG) has made good on its plans to move
DIXON GOBBLES DRINK ‘N’ DINE TO BEGIN NSW EXPANSION Read More »
Pub baron Mazen Tabat has continued his quest to become Colonial Leisure Group’s landlord, buying the Portsea Hotel freehold for $17.1 million. The Herald Sun reported the sale yesterday, which transacted in the first half of 2015 and settled in November. The hotel adds to Tabat’s portfolio of CLG pubs, and the sharp yield bricks
News is emerging of a new pub group with deep pockets, amid the announcement the Waugh family has sold the Banksia Hotel and the Belmore Hotel. Quietly entering the industry with the recent purchase of top-100 gaming pub the Belmore Hotel, the Singapore-based fund behind the money has backed up the play with the acquisition
A Chinese investor has snapped up an outer Melbourne hotel-motel as accommodation-based opportunities continue to attract strong interest around the country. The Sunshine Motor Inn has been owner-operated by father and son John and David Swain for the past 20 years. It boasts a public bar, 44 accommodation rooms, Blazed Bar & Grill, a modern
Dynamic Iris Capital has traded another pub with the booming Gallagher Hotel Group, as leaseholds continue to come to the fore in the hot hotel market. Representing the fifth asset swap for the two groups, Iris has sold Gallagher the 888 Hotel in Chinatown for around $7.5 million. As each pursues specific operational goals, both
Lantern Hotel Group has divested one of its best city assets to a colourful A-lister of Sydney hospitality. In October the ASX-listed Lantern (LTN) announced a portfolio reshuffle, selling three pubs as part of its “strategic review of the business”, including the coveted Dolphin Hotel at Surry Hills. “In terms of the Dolphin Hotel, we
Gastro-pub mecca the Four in Hand has sold to Waugh’s PHMG, making a Paddington hat-trick for the Group – just as it announces the arrival of the acclaimed Guillaume Brahimi as ‘Culinary Ambassador’. A highly anticipated sale, The Four is one of few pubs in Australia to achieve the status of Two Hats, under the
PADDINGTON HAT-TRICK & GASTRO SUPER-CHEF FOR WAUGH GROUP Read More »
An investment fund has snapped up Stanmore’s Salisbury Hotel, boasting some of the strongest opportunity seen in a year of competitive real estate transactions. The three-level freehold on the outskirts of Sydney sold less than 48 hours after its national tender campaign concluded last week, for a price market sources say was around $8.5 million.
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