All the promotional words associated with a history-marinated Hobart building that has come on the market are bankable, either locally, nationally or internationally. The address of the three-level warehouse conversion on the Derwent’s city waterfront is known the world over, and with its weekly market, Salamanca Place is Tasmania’s number one tourist attraction. A million tourists mill through the place each year. The business it houses, Rockwall Bar + Grill is “a mecca”, as Burgess Rawson agent Matthew Wright says. “It’s the place that everyone who comes to Tassie knows about.” A real measure of its popularity is that bookings for Christmas lunch 2023 opened in January. Wright says famous past and current AFL players often dine here. Well, they would because, until last year, the restaurant was operated by its founders, Susan Catchpool and her partner, the big former VFL and AFL ruckman Garry “Bull” Barker, who played in the 1970s and ’80s for Footscray, Sydney and Melbourne. The couple established Rockwall in 2008 and Wright says that, at one time, a silent partner in the enterprise was the legendary Ron Barassi. In 2022, when “seeking new adventures”, the couple sold the restaurant business to new operators.
February 6, 2023
An iconic venue in Emerald has sold for the first time since it was built in 2008. The Mayfair Ridge Tavern and Motel, located at 7-11 Mayfair Drive, has sold through Knight Frank Rockhampton and Region at a price of less than $1 million. Commercial sales and leasing consultant Adam Kelly said the leasehold for the property settled on January 31. Mr Kelly said the purchaser was a Queensland based organisation. The Mayfair Ridge Tavern and Motel is currently leased until November 2027, with options to 2047. The venue boasts a drive-through bottle shop, walk-in bottle shop, large function room, large public sports bar, TAB, large kitchen and restaurant, outdoor dining and 35 active poker machines.
February 3, 2023
A humble motel has become hot property in Geelong as the city navigates an accommodation shortfall. The city’s Bay City Motel became the first motor inn to trade in Geelong for several years, drawing huge interest during the campaign. Agents originally considered the best value in the prime 1215sq m property at 231-235 Malop St to be its development potential, but the level of inquiry from industry operators caused them to switch their marketing campaign. CoreLogic has reported the freehold to the motel complex had sold for $4m, but the sale price taking into account the business is circa $5m. Colliers, Geelong agent Chris Nanni said interest in the 18-room motel hit record levels for the agency, with 270 groups inquiring on the property.
January 30, 2023
A hotel on the outskirts of the city has sold for $15.8 million just six months after it opened. A Melbourne-based investor bought the Mercure Pakenham on a sharp passing yield of 5 per cent and a 20-year lease. The three-storey 64-room hotel is on a 3500 sq m parcel ofland next door to the Cardinia Club, at 77 Racecourse Road. Stonebridge Property Group’s Rorey James and Kevin Tong ran the campaign as part of its National Investment Sales portfolio.
January 27, 2023
A consortium led by Glenn Knight is paying the Roche family about $16 million for the Harrington Irish Tavern and adjoining Harrington River Lodge, in New South Wales’ Mid North Coast. On 1.83 hectares, with 200 metres of Manning River frontage, the pub contains a bar, beer garden, function space and gaming room with 14 electronic gambling machines. The accommodation component includes 22 suites, rated four star, and a three bedroom manager’s residence. Both assets were operated under management. They derive combined annual income of about $4m.
January 23, 2023
Hobart’s iconic Hope and Anchor Hotel – said to be the oldest continuously licenced pub in Australia – is set to be “rescued” by new Hobart alderman John Kelly. Mr Kelly recently paid $4.6m for the hotel, which was built in 1807, and takes over as the licensee on February 1.
November 26, 2021
JLL Hotels & Hospitality Group is to sell Paperbark Camp.
October 19, 2021
Sydney’s Rydges Bankstown sold to the Laundy Group for $28 million after an on-market campaign.
