IMG spends $160m for Tamworth pub portfolio
IMG Hotels has acquired five pubs in Tamworth for a combined $160 million.
The Longyard Hotel, Southgate Inn, Family Hotel, The Pub and Britten’s Brewery were offered by Tamworth Pub Group, a joint venture between local operators Craig and Tierza Power and Sydney based Oscars Hotel Group, led by brothers Bill and Mario Gravanis.
The venues collectively include gaming – with 108 electronic gambling machines – accommodation and three retail liquor operations and are regarded among the strongest hospitality assets in the regional city.
All up they cover two hectares.
Tamworth Pub Group was assembled in 2021 when Oscars bought into the portfolio alongside the Power family, who had been operating the venues for several years.
The deal also included The Good Companion and Moonshiners Honky Tonk Bar.
The sellers were long-time owners Bevan and Joan Douglas, who retired from the sector (continues below).
IMG boosts portfolio
IMG Hotels, led by Andrew Turnbull, is expanding its regional footprint, with existing interests across centres including Bathurst, Cabarita, Dubbo, Mittagong, Mudgee and Orange.
The latest property gives it a network in Tamworth’s southern growth corridor.
JLL Hotels & Hospitality Group’s John Musca and Kate MacDonald were the agents.
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