The auction of “trophy asset” the Imperial Hotel smashed price expectations, as Victoria’s hot commercial market sees values rise and yields fall. Located across from Parliament House, and a popular haunt for off-duty politicians, the sale of the exquisite 1858 corner pub has drawn a lot of public interest and hammer-time drew well over 200 […]
After 24 years of ownership, former rugby league great Craig Young has sold his Wollongong pub. Young played as prop-forward from 1977 to 1988 for the St George Dragons, which included two Premiership wins, including one as Captain at age 22. In 1988 he was awarded Life Membership. He was selected for the NSW Blues
‘No Pokies’ pub baron Chris Morris is expanding his massive plans the reinvigoration of tourism in northern Queensland. Following his $6.25 million purchase of the Orpheus Island resort in 2011 and subsequent $70 million purchase of the Townsville casino last year, the founder of Computershare and owner of Colonial Leisure Group is expected to announce
COLONIAL LEISURE GROUP BOSS TRANSFORMING TOP-END Read More »
After months of negotiation, Paul Irvin Hotels has sold to a hungry residential developer in a deal worth $50 million. The freehold going concern divestment of the Bull & Bush Hotel is one of the biggest pub sales in years, with Dyldam Developments tempting the long-standing hotel group into parting with the Baulkham Hills landmark.
Independent Pub Group has completed its strategic exit from Queensland, selling the last of its hotels in that State to the up and coming Raw Group. The Commercial Hotel Nambour was the seventh and final asset sell-off for IPG, with the freehold going concern passing to Raw for $3.5 million. The divestment campaign included the
RAW GROUP GOES COMMERCIAL WITH PURCHASE OF IPG PUB Read More »
Marty Short’s pub group has picked up a local favourite in Redfern as city fringe assets continue to emerge as the must-haves in a hot market. Spying the area’s steady development, the operators named in recognition of patriarch Warwick Short pounced on the Tudor Hall Hotel in an off-market campaign. The purchase, believed to be
Dormant for nearly seven years, the magnificent Palisade Hotel has sold to a private investor after a packed auction and vigorous negotiation. Located overlooking the Harbour Bridge and foreshore and $6 billion Barangaroo development, the Hotel has been closed since 2008 but recently enjoyed a massive refurbishment to capitalise on underlying property value. The “Jewel
Bourbon “vision” quashed as Chris Cheung sells Kings Cross icon The Bourbon to Iris Group amid trading collapse in the precinct. “It is with a heavy heart that we made the decision to put the hotel on the market,” Cheung lamented to PubTIC. “We were challenged with our master plan for The Bourbon due to
EXCLUSIVE: CHEUNG AND IRIS GROUP TALK ‘THE BOURBON’ Read More »
With the ink still drying on his Newport Arms acquisition, Justin Hemmes’ Merivale has leapt into Newtown with the purchase of the Queen Victoria Hotel. Very close to Newtown station on Enmore Road, the Hotel is the first inner-west venue for the leading pub group, which has been aggressively expanding its portfolio and offerings in
The publicly listed Newhaven Hotels has divested another pub from its portfolio, selling the Bateau Bay Hotel to Laundy Hotels for $11 million. Speaking to PubTIC, Newhaven chairman Fred Kelly said the timing was right. “The directors of Newhaven believe it is in the interest of all our shareholders to sell at this time and
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