Tasmania’s Pub in the Paddock For Sale, With Drinking Pigs

TASMANIAN tourist attraction the Pub in the Paddock is for sale asking $800,000.

The pub, run by Anne Free and renowned for its beer drinking pigs, is in the state’s north-east.

Built as the St Columba Falls Road hotel in 1880, and licensed since 1901, the pub also includes six guest rooms which derive rental income of $75 per night. On three hectares with South George River frontage the property also includes a 100-seat restaurant. A set of pigs, famous for being welcomed in the pub for a drink, are included in the sale price.

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Hilton to Build 8-Level, Upmarket Hotel in the Pilbara

RESIDENTS won’t have to put up with “sub-standard” accommodation around the Pilbara, in Western Australia, with the international Hilton Hotel announcing plans for a $65 million upmarket hotel in central Karratha.

The first Double Tree by Hilton Hotel will include 144 suites, 20 own-your-own apartments, bar, restaurant, fitness centre, pool and car parking.

The proposed eight level building (artist impression, below), in Karratha’s central commercial area will also include three function rooms.

“Today’s announcement is yet another example about how, not the government but the private sector, is embracing the opportunities of the Pilbara,” said minister for regional development and lands, Brendon Grylls.

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Van Haandel Brothers to Sell St Kilda’s Prince of Wales For $20 Million

MILLIONAIRE restaurateurs the van Haandel brothers will pocket close to $20 million from the sale of St Kilda’s iconic Prince of Wales Hotel, at the corner of Fitzroy and Acland streets. A Sydney-based consortium is in exclusive due diligence to buy the massive 4,200 square metre site, sources say, which is configured as a collection of

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Prominent Melbourne CBD Corner Sells For $10.75 Million

A LOCAL private investor has paid $10.75 million for a historic property at the south-west tip of the CBD.

The former Sir Charles Hotham Hotel (pictured, right), later rebranded the Hotham Private Hotel, and now the All Nations Backpackers, occupies sites at 2-8 Spencer Street and 566-580 Flinders Street, near the Yarra River.

On an 833-square-metre site, the property has been offered for sale at various stages over the years, but a lease expiring in 2018 is believed to have deterred residential developers.

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Woolworths, ALH, Move to Gain Control of Even more Poker Machines with Laundy Group JV

AHEAD of the federal government introducing new gaming regulations, retail giant Woolworths is believed to be in discussions with a burgeoning pub operator, to own a joint venture portfolio which would give it control of even more pokie machines.

It’s reported Woolworths has approached one of New South Wales largest publicans, the Laundy Hotel Group, which owns about 47 hotels and is considering proceeding with a $330 million purchase of another 20 hotels being sold the National Leisure & Gaming and Redcape Property Fund.

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2010 May be Big Year For Pub Sales

IF the early weeks of 2010 are anything to go by, some major hotel sales should take place this year.

Pub baron Rick Munday is offloading eight hotels in Victoria, in deals expected to reap about $50 million.

Up for grabs is Melton’s Golden Fleece Hotel, the Sugar Gum Hotel in Sydenham, the Grand Hotel in Frankston, the Cove Hotel in Patterson Lakes, and gaming venues in Carlton, Prahran and Melbourne.

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Abacus Sells Two Queensland Hotels For $34.2 Million

ABACUS Property Group has offloaded two Queensland hotels for $34.2 million to Rydges Hotel’s Amalgamated Holdings Limited.

The hotels include the Rydges Gladstone and Townsville hotels, and were sold by the Abacus Hospitality Fund.

The purchases follow a spending spree last year, in which AHL paid the Raptis Group and City Pacific’s CP1 $56.5 million for the Gold Coast International hotel. It also paid Selpam and FKP $22 million for the Port Douglas Sabaya Resort.

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ALE Property Group to Sell Seven Australian Hotels, as Part of $120 Million Asset Divesting

ALE Property Group has earmarked for sale seven hotels in Queensland, South Australia and Victoria in the first tranche of a strategic asset sales program targeted to divest $120 million worth of assets over the next 12 months.

CBRE Hotels and Burgess Rawson have been appointed to steer the sales process, which involves landmark hotels leased to Australian Leisure & Hospitality Group (ALH), which is 75% owned by Woolworths Limited.

The sale follows the highly successful June 2009 auctions of five ALE hotels in Sydney and Melbourne, which were sold under the hammer for a combined $27.8m at yields as low as 5.05%.

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ALH Sells Four Melbourne Pubs For $29.85 Million

FOUR Melbourne hotels have changed hands at auction today, in deals worth $29.85 million.

Glen Waverley’s Mountain View Hotel sold for $10.9 million, on a yield of 6.95 per cent, while the Eltham Hotel at Eltham sold for $7.9 million (on a 6.43 per cent yield).

Essendon’s Royal Hotel sold for $6.785 million (6.27 per cent yield) while the Westmeadows Tavern, also in Melbourne’s north-west, sold for $4.4 million on a 6.2 per cent yield.

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Victorian Government Relaxes Licensing Fees and Requirements For Live Music Venues

RE-ENACTING the famous AC/DC video It’s a Long Way to the Top If You Want to Rock & Roll – more than 20,000 music fans protested around a truck up Melbourne’s Swanston Street yesterday, asking for a fairer deal for the city’s large live music scene.

In a bid to tackle growing alcohol fuelled violence on the streets, the government recently increased licensing fees and extra security requirements for venues that provide live music.

The decision resulted in a flurry of pubs being put to the market, with others – including Collingwood’s popular Tote – closing their doors.

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Huge Docklands Nightclub Approved by Vic Planning Minister Justin Madden

PLANS for a giant Docklands nightclub capable of accommodating 750 patrons have been approved by ALP Planning Minister Justin Madden.

The Minister granted the development of Platform 28 at the Goods Shed, two days before the liquor licence hearing would have decided whether a licence should be granted.

The project is being developed by Grollo Group’s Equiset, and will include two outside areas capable of accommodating 300 patrons.

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More Changes Afoot For Rialto, Melbourne

MELBOURNE’s iconic Rialto building is facing a vacancy blow-out of almost 20 per cent, with major tenant Telstra refusing to confirm it will stay in the office beyond the next few months.

The announcement comes as two restaurateurs confirm they are considering retail space within the landmark building.
 
Sources say the privatised telecommunications giant, which was told by the Rudd Government last month it may need to separate its wholesale and retail businesses, is considering vacating the approximate 16,000 square metres it occupies of the 84,700 square metre glass office, which upon completion in 1986 was the tallest city building in the southern hemisphere.
 
“We have a lease that expires in April 2010,” a Telstra spokeswoman told The Age. “We intend to continue to occupy the space until that time.”

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Lasseters International Close to Buying Holiday Inn, Melbourne, For $44 Million

MELBOURNE’s Holiday Inn Hotel in Flinders Street is believed to be close to sale to Singapore’s listed Lasseters International Holdings.

Lasseters is understood to be paying about $44 million fo the 4.5 star, 200-room hotel, which is being offloaded by Eureka Funds Management.

Eureka purchased the Holiday Inn, and eight other hotels as part of the $390 million purchase of the InterContinental Hotel Groups portfolio in 2005.

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St Kilda’s Westbeach Bathers Pavilion to Reopen

HAVING been saved from possible demolition about seven years ago, St Kilda’s Westbeach Bathers Pavilion will re-open next month as a high end café, restaurant and function centre.
 
The formerly rundown 800 square metre building at 330 Beaconsfield Parade, on the corner of Pier Road has been restored by a development consortium including kite boarding property developers Katani, in association with the City of Port Phillip.
 
Interiors within the 81-year old building have been refitted in a 1920s theme, and the redevelopment includes a new deck opening out to the beach.

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Woolworths-owned ALH Pays $19 Million For St Albans Hotel

AUSTRALIAN Leisure and Hospitality Group is reported to have paid $19 million for the St Albans Hotel in Melbourne’s west.

ALH, which is three quarter owned by Woolworths, is expanding its portfolio in light of new Victorian government requirements that a single operator owns no more than 35 per cent of the State’s gaming machines, by 2012. ALH, which owns more than that, is expected to sell off properties and machines within its portfolio, before that time.

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Nick Zampelis to Sell Campari Restaurant, Melbourne

RESTAURATEUR Nick Zampelis will sell the prominent Campari building in Hardware Lane – ending a decade long association with the restaurant.
 
Mr Zampelis, who has been both an owner-occupier and landlord at 23 -25 Hardware Lane, can expect to make about $4.5 million from the sale of the building, which has housed the drinking and dining institution through various managers since 1968.
 
Mr Zampelis paid $1.46 million for the building in January 2000, occupying it for a few years before leasing it to tenants, which eventually resulted in its closure.

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Ron Barassi’s Former Richmond Pub Back on the Market For $4 Million

THE Richmond pub still affectionately known as “Barassi’s” (despite the fact  AFL legend and Victorian of the Year Ron Barassi sold it in 2000) will be put to auction later this month.
 
Mr Barassi, with business partner Adrian Galagher, converted part of the Mountain View Hotel public bar into a deli and lounge bar in the mid 1980s. Mr Barassi eventually bought Mr Galagher out, and sold it in 2000 for $1.6 million.
 
This time around, the double-storey building with its rooftop beer garden, is expected to sell for about $4 million, reflecting a yield of about 6.75 per cent based on the hotel’s annual rental income of $270,000.

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$260 Million Redevelopment of Melbourne’s Windsor Hotel Has Lord Mayor Support

Windsor Hotel RedevelopmentPLANS to develop a 92-metre office building in the shape of a curtain, behind Melbourne’s historic Windsor Hotel, have been met with a lukewarm public reception – but has won the support of Melbourne Lord Mayor Robert Doyle.

Land at the rear of the Spring Street hotel, opposite Parliament House, is earmarked for a $260 million, 25-level office building. An art deco building on the corner of Bourke Street – formerly home to Melbourne’s Hard Rock Cafe venture – will be demolished to make way for a new modern structure.

The Windsor Hotel’s famous “Cricketers Bar” will be demolished to make way for a new foyer. The new project is designed by architect Denton Corker Marshall.

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Ubertas Unveils $450 Million Mixed Use Building Opposite Flagstaff Gardens, Melbourne

PRIVATE developer Ubertas has revealed plans for a $450 million mixed-use tower opposite the Flagstaff Gardens, in the Melbourne CBD.

The Fender Katsalidis Architect designed tower planned for 350 William Street will rise 50-levels, and include 626 apartments, 20,900 square metres of office space, 940 square metres of ground floor retail. 460 car park bays and 185 bicycle parking spaces.

Half the apartments will be “studio” serviced apartments (ie, no separate bedroom) whereas the balance will be standard “own your own” apartments which may be lived in, or rented out as an investment.

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