Metrics

Acquisition: $126,000,000

Disposal: $184,000,000

Investor IRR: 28.6%

Fund Profit: $58,000,000

Investment Term: ca. 20 months

Investment Type

Investment Type: Operating Real Estate

Location: Metropolitan and Regional NSW

Sector: Hotel / Pub

Investment Summary

• Progressively acquired twelve (12) freehold pubs in NSW, separating the operating leasehold from the real estate freehold upon acquisition.  Operated the pubs improving operating results through cost centralisation and driving revenue growth across food and beverage, and poker machines.
• The real estate freeholds were sold at a 6.25% capitalisation rate to a private investor who subsequently listed the portfolio on the ASX, with the leasehold operations divested six months later to a separate ASX listed entity.