Zagame, IPR trade $99m pub portfolio
IPR Hotels is paying Zagame Group $99 million for four Victorian hotel leaseholds.
The priciest, in Berwick, 41 kilometres from the CBD, is costing $41m.
Assets in Boronia and Ballarat are trading for $19m and $17m respectively.
A Reservoir venue, 257 Edwardes St, is also selling.
All properties are branded Zagame’s but will be renamed: Berwick Springs, Boronia Hotel, Golden Point Hotel (Ballarat) Edwardes Lakes Tavern (Reservoir).
They were offered with 60 year leases, including options, according to pubtic (story continues below).
IPR grows portfolio
The portfolio deal comes two years since IPR Hotel acquired the Kealba Hotel from Melbourne Storm owners including Jayco founder Gerry Ryan and bookmaker Matt Tripp.
Last November, the same buyer, via an association with Francis Hotel Group, purchased another Reservoir venue – Summerhill Hotel, which is leased to Hotel Property Investments.
In 2018, Zagame sold Moelis five Victorian hotel freeholds for a total of $271m.
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