Singapore-based Worldwide Hotels has bought an inner-city Perth hotel developed around a restored historic red brick home.

The Holiday Inn West Perth at 1309 Hay Street cost $26.75 million.

Australian Development Capital was the seller.

It also completed the asset in 2016.

The 804 square metre site at the south-west corner of Ventnor Avenue is near offices occupied by HBF, RAC and Shell.

Gina Rinehart’s Hancock Prospecting also recently won permission to redevelop its headquarters in the pocket, with an office and serviced apartments.

Holiday Inn double-down

ADC acquired 1309 Hay St in 2013, later building the 13-level, 101-room hotel with a gym in the airspace.

Initially trading as a Sage Hotel, it was in 2021 leased to IHG Hotels & Resorts for an initial 20 years with two five-year options.

The c1902 homestead, sometimes referred to as the ex-Walsh family home, was repurposed and operates as Italian bar and restaurant Julio’s, which serves breakfast for hotel guests. It also contains two boardrooms, meeting and event spaces.

The gross building area is 4884 sqm,

Worldwide already owns the Holiday Inn Perth City Centre at 788 Hay St – that cost c$65m in 2018 from local investors Constantine Berbatis and George Atzemis.

Outside of Western Australia its portfolio includes Brisbane’s Ibis Styles, held since 2018, and a dual-branded asset in Melbourne’s CBD, acquired in 2023 (continues below).

JLL’s Andrew Langsford, Gus Moors, Chris Boyd and Sean Flynn represented ADC.

Another Perth hotel deal

The deal comes a year since realestatesource.com.au reported the state government acquired the 236-room Fraser Suites Perth in East Perth from Frasers Hospitality for $105m, with plans to convert the property into social and affordable housing.

Hong Kong-listed, Singapore-based investment manager ZACD also sold the 64-room Sebel West Perth Aire at 647–659 Murray St for $18.9m.

Capital Bay Investments was that buyer.

It will continue operating as a Sebel.

In mid-2024, Far East Orchard agreed to sell the 103-room Rendezvous Hotel Perth Central at 24 Mount St to Chesterfield Property Group and Mountstreet Operations for $18.4m.

Also two years ago, Hiap Hoe acquired the 198-room Great Eastern Motor Lodge at 81 Great Eastern Highway, Rivervale, for $40m.

That 1.19 hectare property, sold by the Christie family, includes 180 car parks.

Far East and Hiap Hoe are Singapore-listed.

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Hong Kong-based Ovolo is selling two Melbourne hotels including the one that marked its entry into Australia 14 years ago.

Ovolo Laneways at 19 Little Bourke Street, Melbourne, changed hands in July for $20.09 million.

The vendor, First Asset Pty Ltd, is associated with Ovolo.

The buyer is EMKC Cubed.

Ovolo is also speculated to be selling its other Melbourne hotel, in Toorak Road, South Yarra.

That asset could be worth over $60m.

A former medical centre, it previously traded in 2018 for $12.1m before being repurposed.

The deals come three years since Ovolo Inchcolm in Brisbane sold to Singapore-backed Invictus Developments. That five-storey hotel occupies a converted 1930s Georgian Revival office (continues below).

Maiden asset sold

Ovolo acquired the former Somerset Gordon Heights at 18 Little Bourke St in 2012 for $11.7m, marking the Hong Kong-founded group’s first international expansion.

It refurbished the building into a 43-apartment hotel, with studios, one and two-bedroom suites. There are three penthouses.

The sale comes as Ovolo expands its brand through partnerships, including a 2025 agreement with Wyndham Hotels & Resorts covering five hotels across Australia and Hong Kong.

Ovolo had previously said its Australian room count had tripled since 2018.

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Rockhampton’s historic Criterion Hotel has changed hands for the first time in 35 years.

Waymark Hotels Group is the buyer.

On 2023 square metres at 150 Quay Street, overlooking the Fitzroy River, the property cost $6 million in a deal settling earlier this month.

The Turnbull family was the seller.

The operator held the hotel and business since 1991.

In 2004, they added 18 motel rooms beside the pub and a steakhouse.

Criterion Hotel

The three-level Criterion Hotel contains a bar, bistro, conference facilities and a gaming room with Keno.

There are also 26 pub-style guest suites, plus the 18 hotel rooms (continues below).

The venue trades as the Bush Inn Bar & Grill and Newsroom Bar.

The site’s hospitality history dates to 1856, when the Bush Inn opened following the Canoona gold rush.

The present building was constructed in 1889, designed by British architect James Flint.

The deal comes nine months since realestatesource.com.au reported Felix Capital acquired the 74-room Mercure Rockhampton.

Meanwhile in May, the former Plaza Hotel sold for $5.75m.

Australian Venue Co also recently snapped up the leasehold interests in Rockhampton’s Bartlett’s Tavern and the Black Nugget Hotel Motel at Moranbah.

Waymark’s portfolio includes the Queensland Hotel in Goondiwindi and Howard Springs Tavern in the Northern Territory.

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EXCLUSIVE

Elanor Investors Group, which recently rebranded to Kyron, has suffered a hit selling the freehold to a Best Western in regional New South Wales.

On behalf of the Elanor Hotel Accommodation Fund, the manager banked $9.2 million for the Best Western Sanctuary Inn at 293-299 Marius Street, Tamworth.

It paid $10m in 2022, part of a freehold going concern deal worth $16.45m.

According to its mid-year reporting, the freehold going concern price upon disposal is $15.9m.

Trio of Tamworth deals

On 7410 square metres near the Tamworth train station, the Best Western Sanctuary Inn contains 60 rooms – from 31-55 sqm – a restaurant, bar, swimming pool and courtyard (continues below).

There are two conference rooms too.

There is also development upside over a large car park.

The buyer is registered as Bulcock SC Pty Ltd.

It is the third hotel to sell in the street recently following Jim Knox paying Daniel Whitten $3m for the freehold of the historic Tamworth Hotel at 147 Marius St.

The City Sider Motor Inn, at 233-237 Marius St, has also sold, for more than $9m.

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Mandala is expanding its regional accommodation portfolio in Western Australia, buying the Broome Time Resort near Cable Beach.

The freehold for 1 Cable Beach Road East cost the operator $8 million.

The complex contains 59 rooms, a swimming pool, breakfast room and meeting facilities.

The site sits between Broome’s town centre and Cable Beach, opposite the Broome Recreation and Aquatic Centre.

Elsewhere in the state, Mandala’s owns the Quality Hotel Lighthouse in Bunbury and an Ace motel in Albany.

Those assets cost a total $19 million (continues below).

All up they contain 126 rooms.

Mandala invests in regional accommodation through its Trinity-branded hospitality funds, targeting established assets in regional markets.

JLL marketed Broome Time Resort.

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Australian Venue Co is seeking to buy four Perth hotels – two each from the Night Owl Group and Toucan Hospitality.

The proposed acquisitions, lodged with the Australian Competition and Consumer Commission, include The Breakwater in Hillarys, Print Hall in Perth’s CBD and two Molly’s Irish Pubs in Highgate and Victoria Park.

AVC Operations, a subsidiary of Australian Venue Co Holdings, proposes to acquire substantially all the business assets of The Breakwater and Print Hall from Wintime Nominees and Sunliner Holdings respectively.

Both venues were operated by Night Owl Group.

The Breakwater is a waterfront venue with multiple bars, a restaurant, function rooms and recreational facilities including bowling and shuffleboard.

Print Hall occupies a heritage-listed, multi-level entertainment precinct at Brookfield Place, 125 St Georges Terrace, with bars, restaurants and a rooftop terrace.

Mollys Highgate, East Victoria Park

The other proposed acquisitions are Molly’s Irish Pub at 484–492 Beaufort Street, Highgate, and Molly’s Irish Pub at 774 Albany Highway, East Victoria Park (continues below).

AVC would acquire the businesses from Toucan Hospitality entities.

Leases would be assigned.

The deals comes four and a half years since realestatesource.com.au reported the hospitality giant acquired nine Perth venues.

Seven were acquired from Ark Group including the Durty Nelly’s, The Generous Squire, Market Grounds, Galway Hooker, The Peach Pit, Scarborough Beach Bar and the Bassendean Hotel.

The other two were acquired as asset swaps with Colonial Leisure Group.

AVC operates more than 200 licensed venues across Australia and New Zealand, spanning pubs, bars, clubs and restaurants.

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Publican Jim Knox has bought the Tamworth Hotel from Sydney-based investor Daniel Whitten.

The freehold at 147 Marius Street cost $3 million in a deal settling in July.

Opposite Tamworth train station, the two-storey c1936 Art Deco property includes a bar, bistro and gaming room with seven electronic gambling machines,

On 3219 square metres there is also a beer garden, bar, stage and drive-through bottle shop with dual street access.

It has a 2am trading licence from Wednesday to Saturday.

Also this week we are reporting Elanor Investors Partners sold the freehold to the nearby Best Western Sanctuary Inn, held four years on behalf of the Elanor Hotel Accommodation Fund, for $9.2m.

The City Sider Motor Inn at 237 Marius St traded too, for more than $9m.

Diversified income

The upper level of the Tamworth Hotel contains 14 accommodation rooms with shared bathroom facilities and a manager’s residence (continues below).

The bathrooms were renovated in 2023.

It has also been soundproofed to support live music in the beer garden.

The hotel was marketed as a freehold going concern generating more than $115,000 a week revenue excluding GST across food, beverage, gaming, accommodation and bottle shop sales.

Parts of the block can be developed.

Mr Whitten paid $3.65m for the freehold in 2016. It was listed as part of a portfolio consolidation.

The publican retains the Robin Hood Hotel at Charing Cross in Sydney after an unsuccessful marketing campaign in 2023 when it was seeking over $60m.

JLL Hotels & Hospitality’s Greg Jeloudev, Kate MacDonald and Edward Browne marketed the Tamworth Hotel.

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Pub and property investor Bruce Mathieson is backing an $800 million development outside Brisbane, while the Perich family prepares to open its first hotel in Sydney’s south-west, extending two established property interests into growing population centres.

In Queensland, Mr Mathieson has teamed with Gold Coast developer Tim Gordon’s Gordon Corp to develop a 12.7ha town-centre holding at Springfield Central, about 25km south-west of Brisbane’s CBD.

The pair acquired the site from Springfield City Group for $50m in July.

The proposed mixed-use precinct is expected to include retail, commercial, entertainment, leisure and medium-density residential uses.

Its first stage is Springfield Village, a planned 10,581 sqm retail and lifestyle hub anchored by Coles, within a broader 30,000 sqm retail precinct.

This component is scheduled to open in mid-2029.

The development builds on the Mathieson and Gordon partnership’s existing projects, including the $400m Mantaray Marina and Residences on the Gold Coast’s Spit and the Elle on Jefferson apartment project at Palm Beach.

Perich family enters hotel market

In Sydney’s south-west, the Perich family has partnered with EVT Hotels & Resorts to develop Atura Oran Park, a 184-room hotel in the centre of Oran Park Town (artist’s impression, top).

Also with a restaurant, bar, conference facilities and communal areas, it was built on the former Oran Park Raceway site (continues below).

It is scheduled to open this month.

The Perichs, a dairy-farming family that built a multibillion-dollar fortune through a combination of agriculture and property development, will develop it via the Greenfields Development Company.

EVT will operate the property under its Atura brand.

Growth areas

Oran Park is forecast to grow beyond 50,000 residents over coming decades.

The hotel is about a 17 kilometres drive from Western Sydney International Airport, which is due to begin commercial operations on October 25.

Both projects are being delivered in areas undergoing population growth, with new retail, accommodation and community infrastructure planned alongside expanding residential catchments.

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Ingenia Communities has given Warburg Pincus broader due diligence access and extended the deadline for agreeing a process deed.

The move keeps the private equity firm’s $5.25-a-security takeover proposal in play alongside Ingenia’s planned acquisition of Peet.

The listed land lease community operator said it had made considerable progress towards agreeing a process deed with Warburg Pincus, with both parties now aiming to finalise the document by Friday, October 23.

Warburg Pincus will be allowed to undertake comprehensive due diligence in the meantime.

The revised timetable follows a condition requiring the parties to agree a mutually acceptable process deed by October 19.

Warburg Pincus takeover

Warburg Pincus is proposing to acquire all Ingenia securities through a scheme of arrangement and trust schemes for $5.25 cash per stapled security.

Eligible securityholders would also be able to retain a distribution of up to 5 cents per security for the half-year ending December 31, without reducing the proposed price.

The proposal remains non-binding (continues below).

Ingenia said it continued to comply with its scheme implementation deed with Peet, signed on August 26, and was progressing the proposed acquisition.

The board has not determined that the Warburg Pincus proposal qualifies as a Bidder Superior Proposal under the Peet agreement, a status that could give Ingenia rights to terminate the existing transaction.

Conditional deal

Warburg Pincus has made its proposal conditional on Ingenia abandoning the Peet acquisition.

That proposed deal, valued at $992.5m when announced, would expand Ingenia’s residential development pipeline and land lease community platform.

Ingenia has previously rejected Warburg Pincus proposals at $4.75 and $5.05 per security.

Warburg Pincus increased the offer to $5.25 in late September.

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Sam Arnaout has taken Iris Capital into New Zealand outlaying over NZ$100 million (A$81m) for what was the country’s first casino, in 1994.

Christchurch Casino was offered by Skyline Enterprises, which held 14 years.

As well as the gaming venue and business the deal includes a 6093 square metre central CBD site – covering 373 Durham Street North and 72 Salisbury St, presently a commercial car park.

It also includes an indirect 33 per cent interest in Grand Casino Dunedin.

Settlement was on October 8.

New Zealand’s Overseas Investment Office approved the transaction in May, clearing the way for the acquisition through CCL NZ BidCo, a vehicle ultimately owned by the Radayla International Trust and part of Iris Capital.

It marks Sydney-based Mr Arnaout’s maiden New Zealand investment.

New Zealand’s first casino

Christchurch Casino, on Victoria St, opened in 1994 (continues below).

Skyline acquired the business in December 2012 as part of an $80m transaction involving SkyCity Entertainment Group’s Queenstown casino interests.

The on sale follows a difficult trading period for Christchurch Casino.

Skyline previously booked a $14m write-down against the business and made a $5.1m provision linked to compliance issues.

The venue’s operator admitted anti-money laundering breaches in 2025 and agreed to a penalty of about $5.06m.

Proceeds will be invested into Skyline’s tourism, accommodation and property interests.

For Mr Arnaout, the acquisition extends a casino portfolio that includes Lasseters Hotel Casino in Alice Springs and the Reef Hotel Casino in Cairns, which Iris Capital acquired in August.

Savills was the marketing agency.

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