Feros family secures border town pub
The Feros family has bought Albury’s Northside Hotel from Harvest Hospitality Group which bought the freehold going concern just after the COVID lockdown, and renovated last year.
The result is c$27 million.
The deal comes after Harvest banked $3m from a neighbouring portion and a bottle shop.
It paid $16.2m for the amalgamation in 2021.
Also today we are reporting The Lawson Park Hotel and neighbouring Regent Theatre, in Mudgee, 260 kilometres north west of Sydney’s CBD, sold to separate buyers.
Border town deal
The The Feros family’s JDA Hotels now owns 14 venues, in New South Wales, Queensland and Victoria.
Six months ago it picked up the Crystal Place in Sydney’s inner south Haymarket.
Harvest meanwhile has shed assets this year including Adelaide’s The Aussie Inn and Dubbo’s Milestone for a total of just over $50m.
Managing director Chris Conforth said it plans to launch two funds, with mandates of $200m-$300m.
It will also invest in Queensland for the first time.
It was represented for the Northside Hotel sale by HTL Property’s Andrew Jolliffe and Blake Edwards.
Albury is about 540km south west of the CBD.
At the Victorian border, it is also 330km north east of Melbourne.
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