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Tasmania’s Pub in the Paddock For Sale, With Drinking Pigs

pig in the paddock

TASMANIAN tourist attraction the Pub in the Paddock is for sale asking $800,000.

The pub, run by Anne Free and renowned for its beer drinking pigs, is in the state’s north-east.

Built as the St Columba Falls Road hotel in 1880, and licensed since 1901, the pub also includes six guest rooms which derive rental income of $75 per night. On three hectares with South George River frontage the property also includes a 100-seat restaurant. A set of pigs, famous for being welcomed in the pub for a drink, are included in the sale price.
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Hilton to Build 8-Level, Upmarket Hotel in the Pilbara

pilbara aerial map

RESIDENTS won’t have to put up with “sub-standard” accommodation around the Pilbara, in Western Australia, with the international Hilton Hotel announcing plans for a $65 million upmarket hotel in central Karratha.

The first Double Tree by Hilton Hotel will include 144 suites, 20 own-your-own apartments, bar, restaurant, fitness centre, pool and car parking.

The proposed eight level building (artist impression, below), in Karratha’s central commercial area will also include three function rooms.

“Today’s announcement is yet another example about how, not the government but the private sector, is embracing the opportunities of the Pilbara,” said minister for regional development and lands, Brendon Grylls.
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Prominent Melbourne CBD Corner Sells For $10.75 Million

all nations backpackers

A LOCAL private investor has paid $10.75 million for a historic property at the south-west tip of the CBD.

The former Sir Charles Hotham Hotel (pictured, right), later rebranded the Hotham Private Hotel, and now the All Nations Backpackers, occupies sites at 2-8 Spencer Street and 566-580 Flinders Street, near the Yarra River.

On an 833-square-metre site, the property has been offered for sale at various stages over the years, but a lease expiring in 2018 is believed to have deterred residential developers.

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Woolworths, ALH, Move to Gain Control of Even more Poker Machines with Laundy Group JV

charing cross hotel

AHEAD of the federal government introducing new gaming regulations, retail giant Woolworths is believed to be in discussions with a burgeoning pub operator, to own a joint venture portfolio which would give it control of even more pokie machines.

It’s reported Woolworths has approached one of New South Wales largest publicans, the Laundy Hotel Group, which owns about 47 hotels and is considering proceeding with a $330 million purchase of another 20 hotels being sold the National Leisure & Gaming and Redcape Property Fund.
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2010 May be Big Year For Pub Sales

beer

IF the early weeks of 2010 are anything to go by, some major hotel sales should take place this year.

Pub baron Rick Munday is offloading eight hotels in Victoria, in deals expected to reap about $50 million.

Up for grabs is Melton’s Golden Fleece Hotel, the Sugar Gum Hotel in Sydenham, the Grand Hotel in Frankston, the Cove Hotel in Patterson Lakes, and gaming venues in Carlton, Prahran and Melbourne.
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Abacus Sells Two Queensland Hotels For $34.2 Million

ABACUS Property Group has offloaded two Queensland hotels for $34.2 million to Rydges Hotel's Amalgamated Holdings Limited.

The hotels include the Rydges Gladstone and Townsville hotels, and were sold by the Abacus Hospitality Fund.

The purchases follow a spending spree last year, in which AHL paid the Raptis Group and City Pacific's CP1 $56.5 million for the Gold Coast International hotel. It also paid Selpam and FKP $22 million for the Port Douglas Sabaya Resort.
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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.

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ALE Property Group to Sell Seven Australian Hotels, as Part of $120 Million Asset Divesting

ALE Property Group has earmarked for sale seven hotels in Queensland, South Australia and Victoria in the first tranche of a strategic asset sales program targeted to divest $120 million worth of assets over the next 12 months.

CBRE Hotels and Burgess Rawson have been appointed to steer the sales process, which involves landmark hotels leased to Australian Leisure & Hospitality Group (ALH), which is 75% owned by Woolworths Limited.

The sale follows the highly successful June 2009 auctions of five ALE hotels in Sydney and Melbourne, which were sold under the hammer for a combined $27.8m at yields as low as 5.05%.

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ALH Sells Four Melbourne Pubs For $29.85 Million

beer

FOUR Melbourne hotels have changed hands at auction today, in deals worth $29.85 million.

Glen Waverley’s Mountain View Hotel sold for $10.9 million, on a yield of 6.95 per cent, while the Eltham Hotel at Eltham sold for $7.9 million (on a 6.43 per cent yield).

Essendon’s Royal Hotel sold for $6.785 million (6.27 per cent yield) while the Westmeadows Tavern, also in Melbourne’s north-west, sold for $4.4 million on a 6.2 per cent yield.
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