Following “stringent investment criteria” a syndicate has purchased the newly-tenanted and renamed The Local Hotel freehold for $2.5 million. As pubs around the country continue to benefit from upmarket investors, Scope Property Group has seen its way into a South Fremantle pub asset newly re-positioned by local proprietors Phil Thompson and Ross Macpherson. The pub […]
ASX-listed Lantern Hotel Group is forging ahead with its turnaround, announcing the sale of further assets, particularly the landmark Bowral Hotel for $6.35 million. Following a shareholder vote to oust the existing Lantern (LTN) board mid-2015, the newly-appointed Chairman John Murphy and CEO John Osborne have led an orchestrated plan to reverse the company’s flagging
LANTERN BOASTS MORE PREMIUM PUB SALES AMID TURN-AROUND Read More »
Dixon Hospitality has swooped on another pub group, signing a $31 million deal to acquire the Beer DeLuxe portfolio in NSW, Victoria and Queensland. Armada Hospitality was formed in 2012 by Craig Shearer and Jason Sheather, specialising in “management service solutions” for the hospitality industry. It went on to create its own brand, Beer DeLuxe,
The Denmeade family has divested a landmark Wollongong pub to Damian Kelly’s Peak Investments as the Illawarra region continues to run hot. After operating Wollongong’s large format Corrimal Hotel for nearly two decades, Andrew Denmeade has determined to change up the portfolio and listed the pub following his purchase last year of the Unanderra Hotel
One of the most intriguing hotel sales of recent times has concluded, with Pyrmont’s long-vacant Terminus Hotel selling for around $5 million. The heritage-listed Federation style building sits quietly on the corner of Harris and John Streets in Pyrmont, and was built in the early 1900s. It was originally named The Cooper’s Arms Inn, but
NEW OWNER NEW BEGINNING FOR ENIGMATIC TERMINUS HOTEL Read More »
Gold Coast gold mine Melba’s on the Park has sold for a sunny $12.5 million to former Sydney publican Bob El’s Leda Holdings. Vendor George Fleming had owned the Gold Coast institution for several years, and executed a massive reinvigoration that brought about huge increases in the business, including a 245 per cent increase in
GOLD COAST LANDMARK PUB SELLS AMID ‘TRADING UPLIFT’ Read More »
As the hotel sector continues to shine amongst investment options, Melbourne CBD commercial real estate is seeing unprecedented yields on strategic properties. Luxury car dealer Bobby Zagame has divested another A-grade freehold at a bustling auction last Thursday. The Marine Hotel in Brighton holds 50 gaming machines, and fetched $13 million at a sharp yield
The Kelly family’s plan to subdivide and sell off the rear of the Brookvale Hotel has resulted in a developer paying $15 million for the northern Sydney block. The Kelly’s own a number of hotels in Sydney, and several years ago sought and finally gained approval to split and develop a large section of the
Much lauded and super-fit hotelier Stephen Hunt has unveiled to PubTIC plans for his latest acquisition in one of NSW’s growth corridors. Located on a busy intersection of the New England Highway, on tourist route A43 out of Newcastle, the Rutherford Hotel is the third pub for family-run Hunt Hotels portfolio. Seizing the opportunity, owner
Colourful hotelier Ben May has partnered with his Manly Wharf landlord Robert Magid to buy iconic beachside property The Burleigh Pavilion. One of Australia’s only absolute beachfront premises, the Burleigh Heads building currently houses the Rick Shores bar-restaurant, Oskar’s Restaurant, and Nook Espresso Bar, and last year underwent a substantial facelift that updated the façade,
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