NEWS PROPERTY

Ray White’s top pub broker and its No.1 sales agent globally, Andrew Jolliffe, has quit and started his own hotel and pub sales business, taking many of his former Ray White colleagues with him. Mr Jolliffe, who has sold many of the country’s top drinking holes during the recent boom in pub values and whose client list includes Merivale boss Justin Hemmes and John Singleton and Geoff Dixon’s Australian Pub Fund, has set up boutique brokerage firm HTL – Hotels, Tourism and Leisure Property – with former CBRE national pubs director Daniel Dragicevich.

The Clutha Licensing Trust is planning to sell its pubs and liquor store as part of move to a community trust model. The transition could affect up to 80 jobs. Established in 1955, the trust (CLT) owns and operates five hotels and one liquor store. They are in Clinton, Balclutha, Owaka and Milton. It was set up in 1955 when the district voted to allow alcohol sales for the first time since 1893. Unlike the Invercargill and Mataura licensing trusts, the CLT does not have exclusive rights to operate hotels, taverns and off-licences in its district. Trust president Steve Morris said while the trust was in a good financial position, it had made only modest returns recently. “It’s been discussed on and off for a while now and we’ve reached the crossroads … We need to seriously explore this option.” Staff were being consulted on the possible changes and once that finished the public would have its say, he said.

Frasers Property Australia is offering its proposed Atura Edmondson Park Hotel in Sydney’s west for sle, with a price tag of about $50 million. While the hotel was planned as a necessary component of the wider Ed.Square Town Centre project in Edmondson Park, Frasers Property is not a hotel operator and is looking for a buyer. Frasers’ proposed hotel, currently branded Atura, will be the centrepiece of the Edmondson Park town centre. The new owner is free to rebrand the four-star, 167-room hotel with conference facilities. Ground works at Edmondson Park, 42 kilometres south west of the Sydney CBD, have just started and the hotel is expected to be completed in 2020.

Offshore-backed fund manager and developer Barnes Capital will develop a $120 million hotel on the Maroondah Highway in Lilydale after striking a deal with Intercontinental Hotels Group, IHG will operate the 170-room hotel under its new upmarket voco brand.

Luxury lodge Westhaven Retreat at the top of the South Island looks likely to become another overseas millionaire’s bolthole – with a price tag of $24 million. It is one of the highest priced properties of its type to come to the market – overnight visitors pay nearly $1500 a night at peak season, with cheaper options closer to $1000 also available. One of the most expensive properties advertised during 2017 was a $33m house at Glenorchy, the Dotcom mansion at Coatesville near Auckland sold two years ago for $32m, while billionaire Graeme Hart paid $24m last year for a home at Closeburn Station near Queenstown.

Two landmark oceanfront resorts changed hands on Wednesday with the settlement of separate blue-chip management rights sales for close to $15 million. Resort Brokers confirmed the multimillion dollar sales of Oceans Resort and Spa Hervey Bay and Rumba Resort Caloundra, both handled by Sunshine Coast broker Glenn Millar.

The Redcape Hotel Group has sold the Belrose Hotel in Sydney’s Northern Beaches, while Perth-based fund manager Primewest is looking to offload one of Perth’s most well-known hotels, the historic Esplanade Hotel in Fremantle. It is understood the Bayfield Hotel Group acquired the large-format hotel Belrose for about $22 million in an off-market transaction, handled by HTL Property’s Andrew Jolliffe. The Belrose Hotel sits on a large block, and offers multiple large dining and drinking areas, as well as beer gardens, a bottle shop and a gaming room with 25 poker machines.

Western Australia’s hotel market is to receive a fresh test as property fund manager Primewest puts the historic Esplanade Hotel in Fremantle on the block for more than $100 million. The building, on the corner of Marine Terrace and Essex Street, has been refurbished and restored in recent years, and is considered one of the city’s best. Primewest bought the hotel in 2012 from Midland Brick heiress Marilyn New for $88.5m, and then installed Rydges as operator. Now, CBRE’s Aaron Desange, Ryan McGinnity and Chloe Mason are selling the landmark, which originally opened in 1897 as Fremantle’s first hotel. The hotel has 300 guestrooms, four food and drinks outlets and conference facilities. The property has significant underlying land value and is situated over two sites that span more than 1.2ha. A 3043sq m site opposite the hotel, comprising 172 car bays, and a small shop and office component is also being offered.