Opportunity knocks for the likes of pub barons Jerry Schwarz or Justin Hemmes, with yet another of Sydney’s favourite watering holes set to hit the market. There are expectations “north of $10m” for Paddington’s Unicorn Hotel, which will be officially launched to market on Tuesday for a May 6 auction. The building, at 106 Oxford Street, is being offered fully tenanted – with Mary’s Group co-owners Jake Smyth and Kenny Graham still running the popular pub downstairs and interior designers Studio McQualter set to move into the office space upstairs. Sales agents Paul Grasso, Steffan Ippolito and Will Dawson of IB Property were tight-lipped on the property’s owner, though CoreLogic data shows a company linked to Mark and Rosemary Ingham bought the site for $6.1m in 2009. The building makes an average $500,000 net profit per year. The Mary’s Group has been operating the pub since 2015 and serves up classics such as Unicorn meat pies, chicken schnitzel and Mary’s Burgers. Studio McQualter is a very famous interior designer with a global client base, including Zimmerman. The landlord is doing a $150,000 refurbishment upstairs.
March 31, 2021
A resort in the Byron Bay hinterland co-owned by Olivia Newton-John will go up for sale this week, with agents Colliers expecting an “influx” of interest in the property. The Gaia Retreat & Spa, an internationally acclaimed lifestyle retreat overlooking Byron Bay’s coastline and situated in the town’s hinterland, will hit the market later this week. Colliers’ Karen Wales and Gus Moors have been appointed to market the retreat on behalf of co-owners Gregg Cave, Ruth Kalnin, Olivia Newton-John and Warwick Evans (‘G.R.O.W.’). The retreat itself offers 22 rooms, an expansive day spa and a restaurant set on over 8ha of land. The sale also includes two adjoining residential titles across more than 4ha with expansive district views.
March 29, 2021
Merivale has acquired tiki bar The Quarterdeck in Narooma, in its first venture outside of Sydney’s metropolitan area. Merivale CEO Justin Hemmes, said choosing the venue was a no-brainer as he has a close affinity with Narooma. He will receive the keys to the venue shortly and has not announced plans to alter any trade operations.
March 29, 2021
Former Wallaby and veteran publican Bill Young has boosted his asset base, outlaying $37 million for a key pub in Sydney, in a sign the sector has bounced back to life. The Gallagher family sold the Royal Hotel in Ryde to Mr Young, while the cashed-up Good Beer Company bought the family’s the Union Hotel in North Sydney for $20 million. The purchase will add to Mr Young’s growing pub empire, which includes the Concord, Five Dock and recently reopened Illinois hotels, taking his stable to six Sydney sites.
March 25, 2021
Jailed fraudster Craig Gore, and his late father, Mike Gore, each had audacious plans at various times to turn a 394ha Gold Coast hinterland cattle property into golf course-focused resort and residential project. Both schemes collapsed, turning into financial disasters, and the site at Canungra, known as “Saddleback,” has just changed hands once again. The current owner, a pastoral outfit, sold the site at auction last week for $8m to a local family intending to keep the cattle grazing. Elevated 550m above sea level, the property is considered one of the largest holdings close to coastal beaches and it affords spectacular 360-degree views. Even the Glasshouse Mountains are visible.
November 13, 2020
Listed for sale, shut down during the COVID-19 lockdown and now under new ownership, it has been quite the year for the ‘world-famous’ Pinnacle Family Hotel. But you can breathe a sigh of relief as new co-owner Julie Grant has confirmed the beloved pies and jumbo crumbed steaks will stay. “This month, we’re honouring Wendy Strang, the original Pinnacle Pie lady … the pioneer,” Mrs Grant said. “The family has actually decided they’re going to hand down the original recipe to us.” Mrs Grant, who bought the lease with her husband Shane, said they fell in love with the iconic pub while they were stuck in Mackay with their food truck during the coronavirus pandemic. The duo from Kalgoorlie, Western Australia previously ran food trucks to major events around the country including to rodeos and campdrafts. “We actually took one of our food trucks out to O’Sheas at Walkerston,” Mrs Grant said. “Karen and Andrew allowed us to trade alongside their pub. “While there, they told me they had a pub out at Pinnacle; I didn’t even know where Pinnacle was at that stage. “We came for a drive and had a look and went ‘the valley is just gorgeous”. “We got out of the car … and I just went ‘this is where we’re meant to be.”
November 12, 2020
The Royal on Ninety-Nine in Queensland’s Manaroa Region has been acquired by the Waratah Hotel Group. The Roma pub is located in the town’s centre, roughly 480 km west of Brisbane. The hotel was discreetly offered to a select group of operators just prior to the COVID-19 shutdown by Leon Alaban of Savills Australia, on behalf of sellers The Garvie Group. Waratah Hotel Group made the most compelling offer, which both parties made work in the context of the COVID-19 crisis.
October 28, 2020
A 17,280sqm waterside resort with upside in Port Macquarie has been sold for $6 million. A local investor has purchased the “turn key” waterside resort on behalf of the Trustees for Sale appointed, Rodgers Reidy. 50 Settlement Point Road was sold with vacant possession and has an array of quality existing improvements. The 24 self-contained two-bedroom units, plus a three bedroom managers’ residence and ground floor reception/office area, all come with on-site parking and a ‘turn-key’ resort operation. The large scale site is in a well-known location with views of the Hastings River; and is a land holding with quality improvements as well as a major development opportunity (STCA). The deal was negotiated by Nick Lower, Leon Alaban & Selin Ince of Savills Hotels Australia, together with Greg Laws of LJ Hooker. “Positioned on the highly desirable mid-north coast of NSW, 50 Settlement Point Road represents a once in a lifetime opportunity to acquire a prime, waterside resort, and we received a lot of interest from owner occupiers, investors and developers alike,” Mr Lower said.
