Historic inner city Melbourne pub, the Tankerville Arms Hotel in Fitzroy, has been put up for sale by prominent Melbourne hotelier Mazen Tabet and his investment partners with market expectations of around $20 million. The 1865-built gaming pub, on a 1087 square metre site over three titles at 230 Nicholson Street, will go to auction on October 5 at a time of very strong appetite for hospitality assets from operators and for inner city development sites. Mr Tabet, who paid $17 million for the Portsea Hotel in Sorrento on the Mornington Peninsula in January 2016 (buying it from Computershare founder Chris Morris) and who also owns the Lynbrook Hotel in Melbourne’s south-east, shares ownership of the Tankerville Arms with local investors Franco and Lina Rumoro. Mr Tabet recently put his five-bedroom Toorak home up for sale with a $20 million asking price. He was one of three investors in the Aussie Leisure Group, which owned pubs such as the Tea Gardens Hotel in Sydney’s Bondi Junction, sold for a record $38 million in 2014. The Tankerville Arms is being marketed by Cropley Commercial’s Steve Cropley and George Iliopulos in conjunction with CBRE Hotel’s Scott Callow & CBRE’s Mark Wizel who said there was “significant development potential given the site’s location”. The hotel includes 49 gaming machines, a TAB, bistro and first-floor function room
September 5, 2017
The businesswoman known as Miss Maud has revealed an ambitious plan to potentially double her chain of coffee shops and pastry houses. Maud Edmiston claimed rumours she was leaving the hospitality industry after putting her flagship city hotel and restaurant on the market this week could not be further from the truth. She said she would use the proceeds — expected to be about $10 million — to add up to 17 coffee shops to her chain, though she declined to reveal a time frame for the expansion.
September 5, 2017
The land and buildings housing one of the grandest country pubs in the Waikato – featuring a 136-year-old Category 1 listed venue – have been placed on the market for sale. The historic Grand Tavern in Te Aroha traces its roots back to the late 1800s, and is described by the Historic Places Trust, now known as Heritage New Zealand, as reflecting the town’s fortunes over more than a century.
September 5, 2017
The sale of the Shamrock Hotel and all of its rooms has settled for $13.667million in a takeover by managed fund group Moelis Australia. The Sydney company moved to take over the previous owner of the hotel, Redcape Hotel Group, and its 25 other pubs for a total of $677million in June. A Redcape spokesperson said the takeover would not affect how the Shamrock Hotel was run.
September 1, 2017
Newcastle-based Castle Hotels, headed by industry identity Rolly De With, is selling the Premier Hotel in Broadmeadow in the city centre. Price expectations are around $8 million for the pub, which stands on a 1076sq m site with dual street frontage and significant exposure to Lambton Road. Selling agents are Ben McDonald and Daniel Dragicevich from CBRE Hotels and Deane Moore from Moore and Moore Real Estate. Mr De With owns a stable of Newcastle pubs including the Junction Hotel and Sunnyside Tavern.
September 1, 2017
The Newmarket Hotel will likely be sold in a fire sale auction and will be on the market as the “cheapest pub in Australia”. Bill Cusack from Cusack Real Estate is acting for the owner Toula Cassimatis and said the final straw for the pub was on Monday when a deal to sell the pub fell over. The buyer, a man from Sydney who had relocated to Townsville and hoped to run the pub, had made three separate bids to buy the pub. There had been a deadline in relation to a licence at the pub on Monday and with a deal not reached, the owner will look to put the pub to auction, according to Mr Cusack.
September 1, 2017
One of Melbourne’s most distinctive boutique hotels, the 100-room Royce Hotel on St Kilda Road on the city fringe, has been put up for sale with market expectations in excess of $60 million. The hotel with its stunning 1920s art deco facade – a reminder of its origins as Melbourne’s first Rolls-Royce prestige car dealership – along with a four-level office building on a 2164-square-metre site are being offered for sale by its Melbourne private owners and operators, the Bursztyn family.
August 31, 2017
A 2.2ha beachfront hotel, motel and caravan park property at Forrest Beach has entered the market with price expectations upwards of $3.5 million. Resort Brokers Australia has listed the Forrest Beach Hotel, 20km east of Ingham, for sale on behalf of a syndicate of Gold Coast business people who have held it since 2009. Owners include high profile automotive dealer Brett Frizelle, lawyer Dwane Bugden and publican Neil Haslam. The sale is being handled by Resort Brokers’ North Queensland agents Shane Mullins and Des Fagg.
