After seven premium sales, high-profile pub operators Redcape have not ruled out further adjustments to the asset sheet. The Moelis-managed fund has continued its strategic divestment initiative, which sees another three this week, with Redcape saying all buyers were long-term industry participants, who have “been through the cycles and continue to see long term value […]
High-flying pub group Redcape “continues momentum” in its recent divestment program, with the big-ticket sale of its prized Mount Annan Hotel to an established Sydney hotel family. Redcape de-listed from the ASX in September 2021, with shareholders hoping to achieve higher valuations and MA Financial retaining 39 per cent of the $1.4 billion portfolio. At
Redcape’s historic and beloved Aspley Hotel in Brisbane’s north has sold off-market to local operators Star Hotels. The Royal Exchange Hotel was built on the site in 1875, before the current building, designed by architects Addison and Macdonald, replaced it in 1934. It became a landmark of Gympie Road, for years marking Brisbane’s northern outskirts.
Mere days after the announcement Redcape was divesting two of its collection in north Queensland, a sale has already been confirmed on one, Mackay’s The Grove. Last week the high-profile group listed The Shamrock and The Grove hotels in Mackay, with anticipated collective sale price of more than $50 million. It’s understood it is looking
High-profile hotel group Redcape has listed two of its large-format pubs, The Shamrock and The Grove hotels in Mackay, as it shores up the balance sheet to overcome hurdles and pave the way for future moves. Formerly the Andergrove Tavern, The Grove occupies a 1.96-ha site incorporating public bar, bistro, gaming room with 45 Coastal
As New South Wales counts down to a state election in March the public perception of gaming in pubs and clubs is front-and-centre, and operators walking close to the line have their fates in the balance. Since Premier Perrottet pronounced that the regulations would be overhauled, following the government’s Crime Commission report, the public has
Back in private hands, Redcape has listed its north shore mecca, Minskys Hotel, with untapped potential, in Sydney’s upmarket Cremorne. Prominently positioned on major thoroughfare Military Road in Cremorne Plaza, formerly known as the Metropole, housing a Supa IGA, medical and professional businesses and specialist retailers, Minskys Hotel previously incorporated an upstairs piano bar and
Ending a turbulent, pandemic-tainted stint on the Australian Stock Exchange, listed pub group Redcape will soon return to private ownership following an overwhelming shareholder vote. Having taken several forms and been in the hands of multiple movers and shakers, Redcape Hotel Group ran an IPO and listed late 2018, to a lacklustre public response. The
Redcape has announced its full-year financial results, along with proposal it delists its dissatisfying shares from the ASX. Today Redcape Hotel Group Management, as the responsible entity of the Redcape Hotel Group (ASX:RDC), announced financial results for year ending 30 June 2021. The news was highlighted by statutory net profit after tax (NPAT) up 153.6
Moelis Australia has announced acquisition of Bendigo’s All Seasons Resort Hotel for $54.5 million, expanding into regional Victoria with a property previously sold by Redcape. MA Financial Group (ASX:MAF) reports it has exchanged contracts on the purchase, set on a massive 3.56-Ha lot on the McIvor Highway, around 150 kilometres north of the Melbourne CBD.
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