Oscars buy into Tamworth pub portfolio

Oscars recently paid $55 million for Brisbane’s Oakwood, beside the Story Bridge.

Bill and Mario Gravanis’ Oscars Hotel Group has purchased a half stake in The Pub Group Tamworth portfolio.

The balance will be acquired by Craig Power and his wife, Tierzah Douglas, who have been co-running the venues for several years.

The vendors, Bevan and Joan Douglas, will now retire.

Included in the deal is the Britten’s Brewery, Family Hotel, The Good Companions, Longyard Hotel, The Pub, Moonshiners Honky Tonk Bar and Southgate Inn.

The incoming owning partnership will be branded TPG Hotels (story continues below).

Oscars holds more than 30 metropolitan venues, including accommodation complexes.

Last month, we reported it paid Mapletree Investments $50m for the 11-storey guesthouse Oakwood, in Brisbane.

Not long earlier, the Gravanis brothers sold Ludlow Group Wollongong’s Five Islands Hotel for $20.7m – a substantial rise on the price they paid in 2017 before renovating.

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Marc Pallisco

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