Virtical

RECEIVERS LIST HOTEL AUSTRALASIA

Posted on November 20th, 2024 by Clyde Mooney
Eden’s picture-postcard Hotel Australasia is for sale through receivers, offering a destination in a tourist town, as its troubled owners relinquish the fight. Image: Australian National University archives Built 1904, the striking heritage-listed Hotel is found in the idyllic precinct

ATO FALLS ON VIRTICAL

Posted on September 27th, 2024 by Clyde Mooney
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

RECEIVERS SNATCH VIRTICAL’S JUST SOLD REPUBLIC

Posted on September 23rd, 2024 by Clyde Mooney
Receivers have taken control of the Republic Hotel in Sydney’s CBD only days after Virtical signed to sell the property to Chris Thomas for a major loss, and as the group is accused of not paying staff Super. Under the

VIRTICAL RULE OUT THE REPUBLIC

Posted on September 20th, 2024 by Clyde Mooney
In the spotlight developer Virtical has offloaded the Republic in the Sydney CBD to industry veteran Chris Thomas for a significant loss. After bursting into the picture in 2023, spending over $125 million in a matter of months including more

DEVELOPERS LOSE BATTLE OVER CONTRACTED WORK BY VENDOR

Posted on September 9th, 2024 by Clyde Mooney
The forces behind developers Virtical and Core Asset Development have lost in their attempt to sue the prior owner of the historic Hotel Australasia over supposedly contracted works not completed. Image: Australian National University archives The heritage-listed Hotel was built

SUPREME COURT FINDS FOR MA FINANCIAL

Posted on August 16th, 2024 by Clyde Mooney
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

KINSELAS AND COURTHOUSE DEAL IN COURT

Posted on July 12th, 2024 by Clyde Mooney
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

MA BACK OUT OF TAYLOR SQUARE

Posted on September 22nd, 2023 by Clyde Mooney
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