The Redcape reshuffle peaked in December with sale of two of its big-ticket gaming hotels to Sam Arnaout’s Iris Capital. Transaction of the Cabramatta Hotel in Cabramatta and El Cortez in Canley Heights is reported at more than $180 million. The two pubs hold a combined 17K sqm and boast approved development upside. The Cabramatta […]
Iris Capital is executing plans for a massive $77 million redevelopment of The Palms at Chullora, adding residential buildings and commercial space. Plans were lodged with Canterbury-Bankstown Council for the mixed-use project on The Palms’ 11,744sqm site on the Hume Highway, slated for construction in three stages. The existing Palms is a two-storey suburban pub,
Trailblazing hotel and hospitality developer-operator IRIS Capital has announced an exclusive partnership with TAB for the next three years. Sam Arnaout’s IRIS is an acclaimed hotel operator and developer of both mixed-use and residential sites, championing a “passion for creating places people love”. The group’s broad portfolio counts 32 pubs, including Sydney icons such as
Iris has achieved approval for big plans to transform the landmark Kingswood Hotel into a mixed-use site for a new iteration of the pub, and more than 100 apartments. Iris Capital purchased the former Milestone Hotel, built in 1953, in late 2018 from former ILG chief Neville Blair. Located directly opposite Kingswood Railway Station, at
Iris Capital has won a pivotal court battle to construct luxury apartments adjoining the Hotel Steyne in Manly. Sam Arnaout bought the iconic pub in 2019 for $65 million from hospitality and property veterans Arthur Laundy, John Singleton, Robert Whyte and Mark Carnegie. Initial plans were submitted in 2018 for alternate use of part of
Bill Young has continued the house shake-up, selling his long-held Wisemans Inn Hotel to Sam Arnaout’s expanding Iris Capital empire. The large-format Hotel was built by British convict Solomon Wiseman, who after being pardoned received a grant of 200 acres, around 1819, at the site of what is now known as Wisemans Ferry. Built 1827,
Iris has taken another big step in the red centre, acquiring three pubs and two accommodation hotels in Alice Springs. Sam Arnaout’s expansive group already owns the award-winning Lasseters Casino in Alice Springs, purchased early 2021. Iris’ portfolio in the Northern Territory now expands with purchase of the independently owned Gap Tavern, Todd Tavern, Diplomat
Ending more than a century under stewardship of the Whelan family, the large-format Strathfield Hotel has sold for around $80 million to Sam Arnaout’s Iris Capital. The three-level pub was built in 1918 after WWI by John Whelan, courtesy of a windfall betting on a cargo of Scotch whisky thought to have been lost at
WHELANS SEE IRIS INTO GENERATIONAL STRATHFIELD HOTEL Read More »
Sam Arnaout’s Iris Capital is building on successes for the new year, chasing plans for a $70 million development on the site of the Kingswood Hotel and a brand-new pub for Sydney’s upper north shore. Plans for 180 Great Western Highway, Kingswood (along with 26 Roger Street) were lodged with Penrith Council in December, with
Sam Arnaout’s Iris Capital empire has taken another big step with the $105 million purchase of the iconic Lasseters Hotel Casino in Alice Springs. Formerly known as the Diamond Springs Casino, the property opened in 1981. Known as an oasis in the red centre, it featured in the 1994 movie The Adventures of Priscilla, Queen
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