ALH Pays $12.5 Million For Two Queensland Pubs

NATIONAL Leisure and Gaming has announced the leasehold sale of two Queensland hotels for $12.5 million.

Woolworths-controlled Australian Leisure and Hospitality Group is understood to have purchased the properties, which include The Blue Pacific Hotel in Bribie Island, and Magnums on Airlie Beach.

NLG Managing Director Andrew Jollife said "the $12.5 million consideration for the sale of the two assets will be payable in cash, and it is envistaged that net proceeds from the sale of the two assets will be used largely, but not extensively, for the repatriation of debt."

ALH is 75 per cent owned by Woolworths and 25 per cent owned by pub owner Bruce Mathieson.. Combined the group run more than 280 licensed venues and 450 liquor outlets.