Listed entity HPI has announced a deal renewing the bulk of its leases to Australian Venue Co (AVC) and the partnership with Coles, bringing “confidence” in the future to all parties and the pub sector. Hotel Property Investments (ASX: HPI) launched at the end of 2013, and has accumulated titles to 43 pubs in Queensland […]
The brand new joint venture between Australian Venue Company and Coles has kicked off further expansion plans with purchase of Open Arms Hospitality’s Brisbane hot-spot Riverland. This marks the first acquisition for the newly-formed Queensland Venue Company (QVC), which sees AVC operating the formerly Coles-held 87 pubs, predominantly located in Queensland. Open Arms took on
Coles’ Spirit Hotels has finally announced its much-anticipated joint venture proposal with Australian Venue Company (AVC), for control of 87 pubs in three states. ASX-listed Coles (ASX: COL), recently de-merged from parent company Wesfarmers, has entered into an incorporated joint venture with a wholly-owned subsidiary of AVC, to be known as Queensland Venue Co (QVC).
The long-awaited joint venture between Coles’ Spirit Hotels and KKR’s Australian Venue Company is one step closer, with lodgement of the paperwork this week to Queensland’s Office of Liquor & Gaming Regulation. Rumours have circled for much of this year that Australian Venue Company (AVC), majority owned by American venture capital behemoth Kohlberg Kravis Roberts
Hotel Property Investments has divested its freehold interest in the Coles-tenanted Wickham Hotel in Fortitude Valley on a sharp yield not seen in the state for a decade. The ASX-listed HPI holds in excess of 40 venues in Queensland and South Australia, majority tenanted by Cole’s liquor and hospitality arm. HPI engaged JLL Hotels’ Tom
Coles has completed its exit from NSW pub operations, selling the Northlakes Tavern to the pub partnership of Arthur Laundy and Mark Malloy. Moving to minimise or remove itself entirely from its PR burden of association with gaming, Coles listed the leasehold interest in the Tavern in Charmhaven in February. However, the freehold owners of
The battle of the supermarket pub groups has taken another twist with Wesfarmers’ mooted plans to shed Coles from its portfolio, as Aus Venue Co looks to step up the value of its operations. Eleven years after buying and reviving the national supermarket chain, Wesfarmers has announced plans to divest most or all of Coles,
Continuing the run of Spirit Hotels blue-chip Queensland freeholds, the big Waterloo Hotel and tower has come to market. The Waterloo Junction complex in Newstead comprises an historic pub and several retail tenancies, plus upmarket commercial office space. It represents a total of 4,634 m² of lettable area over five levels, on a prominent corner
ANOTHER SPIRIT BLUE-CHIP TO MARKET IN HEART OF BRISBANE Read More »
The freehold and opportunity surrounding Coles’ Mansfield Tavern came to market last week – only to be snapped up quick smart by “a well-known Sydney publican”. The massive 20,830 m² site, just 11 kilometres south-east of Brisbane CBD, was expected to pique investors, developers and hoteliers looking for the next big thing. The Tavern and
Wesfarmers continues its rhetoric around poker machines, alluding to “other options” if it can’t get government or manufacturers to back its trial of $1 bet limits. Chief executive Richard Goyder told ABC’s The Business Wesfarmers was pushing for poker machine manufacturers to make changes to machines in pubs operated by its Spirit Hotels, to allow
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