Harvest makes first Adelaide play

The Lodge Hotel offers 34 electronic gambling machines.

Harvest Hotels has snared two venues north and south of Adelaide – its first play outside of New South Wales and the Australian Capital Territory.

Brahma Lodge’s The Lodge Hotel, north of town and the Aussie Inn at Hackham, in the south, will be financed using $50 million from the Harvest Pub Fund 3, which targets South Australian product.

Hackham Community Sports and Social Club offloaded the Aussie Inn.

Both venues offer gaming – 74 electronic gambling machines all up.

Each has development upside too.

JLL’s John Musca and TJ Board & Sons’ Terry Board were the agents.

Adelaide expansion

On 1.2 hectares, The Lodge was offered by GM Hotels Group as part of a $78m portfolio of three Adelaide venues.

Another, the Emu Hotel and bottle shop in Morphett Vale, was purchased by ALH Group and Charter Hall for $32m (story continues below).

The Christies Beach Inn was the third asset; on 4250 sqm with 35 EGS, it traded to RD Jones.

Harvest acquired the Aussie Inn – which spreads 1.3ha and includes a bottle shop – from the Hackham Community Sports and Social Club.

“Over the past year Harvest has been doing its due diligence and working with local operators, suppliers and patrons to understand the South Australian pub sector,” a group spokesperson said.

The purchase comes a week since the group paid $51m – a record for an inland non-metropolitan pub – for East Maitland’s Windsor Castle Hotel.

In April Harvest picked up Wagga Wagga’s Victoria Hotel for $29m – again a region record.

The group’s c$230m portfolio includes assets at Albury, Dubbo and on the Central Coast too.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.