Lantern has sold its best yet to former Wallaby Bill Young, in a swift campaign fetching another big premium at nearly $29 million. Coming to market less than two weeks ago, the ASX-listed Lantern (LTN) has announced the sale of prominent Five Dock Hotel, for $28.75 million. This is an enticing 38 per cent above […]
As investor attentions continue in high-performing regional landmarks, the Auswild family is divesting its long-held Figtree Hotel, managed by the Waugh Group. Siblings Barbara and James Auswild own pubs including the Rose Bay and Wollongong’s big Figtree. The large-format pub sits on a 9,300 m² block on the four-lane Princes Highway, close to the CBD,
Hot on the heels of highly profitable divestments, Lantern has listed its best pub onto the opportunity-starved market. After 12 months of shedding assets, in pursuit of a turnaround strategy that has transformed into a complete sell-down as market frenzy brings about premium prices, the top-ranked Five Dock Hotel is due to be the last
John Feros’ JDA Hotels has been tempted to market with its newly-acquired top-100 Tennyson Hotel. Just 14 months after snapping up the asset for around $27 million, JDA has re-listed the Tennyson with high expectations for a hot market especially starved of top-ranking gaming pubs. Located on Botany Rd, a stone’s throw from Sydney’s Mascot
The sky is the limit as Eastern Suburbs pub royalty comes to market, with Iris testing the waters for its beachside beauty, the Clovelly Hotel. Sam Arnaout’s Iris Capital acquired the Hotel in 2008 and in 2012 performed a major redevelopment and refurbishment of both the site and structure. The new offering included multiple bars
The five-level Forbes Hotel on York Street has come to market looking to be the next entertainment and dining hot-spot in the heart of Sydney’s CBD. It was until late 2014 under lease to Iris Group, before Waugh Hotels took on the renewed lease operation. The Waughs worked to secure a DA for the building,
Lane Cove stalwart Graham Campion has emerged as the big-ticket buyer of Lantern’s Commodore Hotel, picking up his coveted second pub for a cool $14.5m. Listed pub group Lantern (ASX: LTN) put the McMahon’s Point beauty up for grabs last month. The 150-year-old Commodore was the last of the shrinking company’s ‘non-core’ hotels, and thus
Peter Calligeros and Stephen Farley are releasing the massive Acacia Ridge Hotel to a hot Sunshine State market. After landing the trophy asset in mid-2014, business partners Calligeros and Farley have executed a calculated makeover and refresh of the business that has seen it climb the ranking of Queensland’s top pubs. It is the first
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The compelling Lantern Hotel Group has put to market one of its final non-core hotels, as it asks shareholders to ponder selling up the lot. The 150-year-old Commodore Hotel – originally the First Old Commodore, and rumoured favourite haunt of Henry Lawson – is a modern two-level pub in McMahon’s Point, beside the bustling North
COMMODORE SETS SALE AS LANTERN PLOTS COURSE FOR EXIT Read More »
Sam Arnaout’s Iris Capital has bought former Westpac Bank now Oxford Street landmark The Colombian Hotel for an undisclosed sum. The three-level building on the prominent corner of Oxford and Crown Streets in Darlinghurst is an institution of the Oxford Street scene, and former Top-100 gaming venue, with 30 EGMs including 15 valuable permits. The
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