Redcape has divested its lower north shore party venue Minskys Hotel to a partnership between Mitchell Waugh and the Karellas family. Situated on major thoroughfare Military Road in Cremorne Plaza, the freehold going concern Hotel offers bar areas, with 24-hour trading approval, a separate bottle shop, and gaming room of 25 machines, ranked #302 in […]
Redcape has released its results for the first half of the financial year, boding well for its growth prospects and for the broader industry. Redcape Hotel Group Management (RHGM), responsible entity for the Redcape Hotel Group (ASX:RDC) portfolio, reported a $17.4m first-half profit and 10.9 per cent increase in distributable earnings, to 4.78 cents per
Redcape ends a record-setting year in pub real estate with a bang, acquiring Hurstville’s Kings Head Tavern while divesting its Royal Hotel Granville for $51 million to the same party. The ASX-listed Redcape Hotel Group (ASX: RDC) today announced a deal with hotelier and owner of AVS Security Pierre Sleiman to ‘exchange’ its Top30 corner
Hotelier couple Michael Wiggins and Joanne Cassar have exchanged contracts to purchase Redcape’s Top50 south Sydney venue, the St George Hotel. Built 1893 by one Aaron Brown, the two-storey St George Hotel casts an imposing figure on Canterbury Road in Belmore, around twenty kilometres south-west of the Sydney CBD in gaming heartland. It is an
Redcape has announced its first results since its listing in November, showing strong outcomes on the back of a string of acquisitions. Redcape Hotel Group Management Ltd – responsible entity for publicly listed Redcape Hotel Group (ASX:RDC) – announced results for the first six months of FY19, ending 31 December 2018. Highlights of the “1H19”
Ahead of its pending listing on the Australian stock exchange, Redcape is issuing shares to employees. High-profile pub operator Redcape Hotel Group (RHG) successfully completed its pre-IPO book-build earlier this month, which saw new and existing investors sign on for well in excess of the minimum $40 million sought. RHG’s portfolio comprises 32 hotels in
The long-awaited IPO of Redcape Hotel Group seems destined to hit the trading floor 30 November, after success securing pre-launch commitments “well in excess” of the minimum funding required. ASX-listed investment bank Moelis Australia announced a fundraising roadshow in October for Redcape, initially citing plans to raise up to $100m through securities at $1.13. But
Redcape has bucked recent trends and sold its suburban heartland pub, the Doonside Hotel. The Doonside occupies a big 7,278sqm town centre site in the western Sydney suburb, around 50 kilometres out of the Sydney CBD. Features include public and lounge bars, TAB, drive-thru bottleshop, beer garden, extensive car parking, and gaming room with 26
This week Moelis – new owner of Redcape Hotel Group – announced nearly $100 million in acquisitions into the portfolio ahead of a big capital raising and its potential re-listing. Redcape Hotel Group (RHG) already operates top gaming pub the Cabramatta Inn, and has executed a $45 million purchase of the freehold from the Bowden
Redcape has completed the sale of its very large-format All Seasons Quality Hotel in Bendigo for around $24 million, completing a process begun before Moelis bought the balance of the portfolio in June. Occupying 3.56 hectares on McIvor Highway in Bendigo, around 150 kilometres out of the Melbourne CBD, the All Seasons boasts bar and
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