The strings are unravelling on the rise and fall of the skyrocketing Virtical Group, as the ATO unleashes the first of what could be many fines for improper tax claims. An audit, which is the first to emerge from what are thought to be ongoing Australian Tax Office (ATO) investigations, was obtained by the Australian […]
The NSW Supreme Court has ruled Mark Toma, owner of pub-developer Virtical, to complete the troubled $61 million Taylor Square deal and pay costs to the vendor, MA Financial. The unlisted MA Taylor Square Fund acquired the prominent Courthouse Hotel on Oxford Street for $22 million late 2020, and the following month picked up the
The big-ticket sale of Kinselas and the Courthouse Hotel by MA Financial to operator-developer Virtical has fallen over, with parties now arguing the specifics in court. Last September news broke that Moelis was divesting the pair of pubs at Taylor Square to the private company for just north of $60 million. The unlisted MA
Property developer Virtical has stepped up its hospitality footprint, exchanging contracts with MA Financial to acquire the high-profile Kinselas and Courthouse hotels, in Taylor Square. In November 2020, the unlisted MA Taylor Square Fund acquired the prominent Courthouse Hotel on Oxford Street for $22 million from the family of late hotel patriarch Claude Wright, who
Moelis Australia has announced another big-ticket acquisition in Kinselas Hotel Darlinghurst – unlocking plans to create a consolidated hospitality precinct at Sydney’s iconic Taylor Square. Moelis Australia Limited (MOE:ASX) has exchanged contracts with the Kospetas family to buy Kinselas for $45 million, following the investment bank’s very recent purchase of the Courthouse Hotel on the
Sydney’s Kinselas was victim to a criminal mastermind, orchestrating a cunning entry into the Darlinghurst pub and making off with a bag of convenient booty. NSW Police report CCTV footage (below) caught a man around 4am yesterday (10 July) using what appeared to be a car jack to attempt to smash the front door of
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