For the first time in 40 years, the iconic Birdsville Hotel is set to change hands this month after it was sold to a New South Wales couple. The sale is in its final stages, with former co-owners Jo and Kym Fort and David and Nell Brook happy to see that “the old girl” will be in good hands. “You want to make sure you pass it on to someone who’ll possibly do it even better than you,” Jo Fort said. New owners Courtney and Talia Ellis are very familiar with Birdsville and life in the Channel Country, having travelled through the town many times in the last decade. Ms Ellis, a former outback pilot, worked for a company based at the Oodnadatta Track before becoming the chief pilot at Spirit Aviation. Mr Ellis is a co-founder of Outback Spirit Tours, which specialises in outback tourism. They often stop off in Birdsville for work and when travelling with their kids, and said they loved the small town and had often talked about owning the pub. “The outback has been the business of my life for 20 years, so it’s not like it’s new to me and certainly not new to Talia, so it’s not like we’re going for this big sea change — it’s always been part of us,” Mr Ellis said. “The long and short of it is, a few things fell into place and we decided to take the plunge and buy it.”
January 14, 2020
One of the “first four” motels built in Cairns has been listed on the market after remaining in the hands of its owner for 15 years. The freehold title for the Tuscan-styled building which occupies Adobe Motel and Little Ricardo’s pizzeria at Cairns North can be picked up for a cool $1.5 million. However the owners of the pizzeria and motel businesses are willing to negotiate the sale of their entities as a package with the freehold title. The budget motel which has 15 rooms and two managers’ quarters was listed for sale on December 28 and owner Joseph Saliba had already received 12 inquiries before the new year. Mr Saliba bought the motel in 2004. At the time it included an unoccupied restaurant space. With his partner Somkhit and son, Angelo, the family operated the motel themselves while renovating the building over a four-year period, which eventually led to Little Ricardo’s returning to the space. Three years ago Mr Saliba sold the motel business, which he said was turning over about $350,000 a year, and continued as the owner of the building. Now the 60-year-old is selling the freehold title so he can “phase into retirement”, and said it would be an ideal acquisition for investors or families. “It’s been a great business and I think I’ve put as much effort as I could into it,” Mr Saliba said. “The two businesses here – the restaurant and the motel – have some years to run on their leases so it would be a good buy for an investor because they’ll have that return. “It would also work well as a family business because they have the option to negotiate buying out the restaurant and motel as well.” Mr Saliba said his motel had been unaffected by the rise of Airbnb and the recent construction of the three Crystalbrook Collection hotels because the Adobe Motel appealed to a unique market. “Those (luxury hotels) are great but not everyone can afford $400 a night,” he said. “Airbnb targets people holidaying and we did get some budget travellers, but our market was really people who came to town to work a few days a week. “In our first five years, we were fully booked out every day and since Airbnb we’ve still managed above 90 per cent occupancy.”
January 13, 2020
In Sydney’s first major pub sale for the year, the Harbord Beach Hotel in the suburb of Freshwater has been sold to a syndicate of local business people in a deal worth around $30m. The hotel, with 23 pokies, sold to local residential real estate executive Glenn Piper, who heads the syndicate, after about a year of negotiations in an off-market deal. The vendors were former Australian Hotels Association NSW president John Thorpe and his partner Trish King, who have owned and lived in the 1928-built pub since 1978. Mr Piper, who would not be drawn on the price paid, plans to spend up to $3m renovating the pub, 100m from Freshwater Beach, and revealed his plans to convert the existing accommodation area above the pub into a rooftop bar. Specialist hotel agent Andrew Jolliffe of HTL Property said Sydney’s Northern Beaches had recorded $250m worth of hotel sales in the past few years, including The Newport, Belrose Hotel, Collaroy Hotel, Mona Vale Hotel and Hotel Steyne. Mr Jolliffe, a director of HTL Property, said there had been three freehold hotel sales in the first week of 2020, including the Harbord, which was “evidence of broad positivity and the well-placed confidence that underwrites our view for continued transactional activity and sector prosperity”. Mr Jolliffe said the sale was an example of well-funded local interests protecting the provenance of the “community meeting place”, adding that Newcastle’s Kent Hotel and Balmain’s Unity Hall Hotel had both recently sold to local business people. Mr Piper, who founded Sydney-based investment real estate agency Meridian Australia in 2011, said he was attracted to the pub because it was in a prominent position in one of Sydney’s best beachside suburbs. He said the emphasis would be on its food and beverages but the poker machines would remain. “Freshwater is not so much a gaming area,” he said. A registered real estate agent, Mr Piper is also a director and shareholder of residential developer Pyco. Local businessman Lachlan Cottee is also a substantial shareholder in the Harbord Beach Hotel. Mr Piper retained more than 50 per cent ownership.
December 16, 2019
Geordie Clark and James Henty have sold the Kincumber Hotel to the Hunter Hotel Group for $15 million. HTL Property’s Dan Dragicevich and Andrew Jolliffe handled the off-market deal. Hunt Hospitality has divested Lakeside Village Tavern. Raymond Terrace, for $12 million to publican Nicholas Quinn and his syndicate. Mr Dragicevich and Blake Edwards advised on the sale.
November 29, 2019
The Sydney publican who scooped up the Empire Hotel in Goulburn last month has added the Southern Railway Hotel to his portfolio in the NSW regional city. It is understood the sale closed at just under $2.5 million. Established in 1872, the traditional pub has budget to family hotel rooms, a restaurant and amenities. HTL Property’s Blake Edwards, Xavier Plunkett and Sam Handy acted for vendor Jude Bourne.
November 25, 2019
The Kent Hotel in Newcastle’s Hamilton has been bought by local investors. The prominent corner hotel, which dates back to 1924, was put up for sale by Peter and Stephen Hunt, who have owned it since 2002. The price was not disclosed, but selling agents Andrew Jolliffe and Dan Dragicevich from HTL Property claimed it was record price for Newcastle. It came to market with price expectations above $25 million.
November 20, 2019
Prominent Sydney pub landlords the De Angelis family have taken its hotel spending spree to $65 million in just over a week after buying the Ingleburn Hotel for $29.25 million. The deal for the south-western Sydney gaming venue was struck by Bonnie Hotels group, which is owned by Marc and Meg DeAngelis, on a low yield of just 3.4 per cent. Last week, the De Angelis family swooped on the Raby Tavern and shopping centre, also in Sydney’s south-west, just two weeks into a sales campaign, paying about $35 million to secure it from long-time owners the Walker family. The family are among the most well-connected pub owners in Sydney –family matriarch Robyn De Angelis is the sister of Financial Review Rich Lister and fellow pub baron Arthur Laundy. Marc De Angelis and his brothers Philip and Peter are involved in the family’s hotel business. The De Angelis Hotel Group owns a large gaming pub portfolio including Uncle Bucks Hotel in Mount Druitt, which it bought from the Lantern Hotel Group for $25.3 million in 2016, as well as the Moorebank Hotel, Green Valley Hotel, Picton Hotel and Bath Arms Hotel. The Ingleburn Hotel, which stands opposite the train station, was put up for sale for the first time in 60 years by the Morgan family’s Irene Collins Nominees. JLL’s John Musca marketed the hotel, which sold before its November 14 auction. The Ingleburn Hotel has 27 gaming entitlements and permits, and consistently ranks among the top 80 gaming venues in NSW. The property covers 2239 square metres and is included in the proposed Ingleburn Precinct Plan as a future high-rise development site. “This is the third top 200 ranked hotel sold in Sydney in the past fortnight representing over $87 million of transactions, so the rapid consolidation continues in this rarefied asset class,” Mr Musca said Its sale follows hot on the heels of the ASX-listed Redcape Hotel Group selling the St George Hotel in Belmore in Sydney’s inner south-west to Michael Wiggins and Joanne Cassar for $47.1 million. Another south-west Sydney gaming pub, the Allawah Hotel, was acquired by Merivale Group’s Justin Hemmes for $34 million.
November 20, 2019
An Australian based property developer has purchased the Mon Komo Hotel, after it was put up for sale in June. Lewis Land Group, who also own the Belvedere Hotel at Woody Point, purchased the Redcliffe entertainment venue to bolster its portfolio. Mon Komo Hotel, at Marine Pde, Redcliffe, opened in 2011. Since then it has been operated by Kyko Group. Group director Bill Jenkings said they were selling to focus on expanding their office building portfolio. “It’s been a great journey and we’re really proud that Mon Komo has become one of the iconic Queensland hotels. We really look forward to coming back to relax and enjoy a cold beverage on Mon Komo’s stunning terrace” Mr Jenkings said. Lewis Land Group Head of Leisure Brad Jenkins said the buy was a significant milestone for the group.
