The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
UPCOMING EVENT - INDUSTRIAL AND LOGISTICS SUMMIT 16 OCTOBER, SYDNEY
INDUSTRIAL AND LOGISTICS SUMMIT - TICKETS NOW ON SALE
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
HotelWed 17 Oct 18

Redcape Boosts Pub Portfolio Ahead of $1bn Stock Market Launch

843f5613-485c-4086-ba24-7510cb65b30d

Redcape Hotel Group has scooped up the largest New South Wales hotel portfolio south of Sydney in its latest string of hotel acquisitions as it moves towards listing on the Australian Securities Exchange.

The latest three-hotel portfolio swoop comes as Redcape, owned by Moelis Australia, ramps up its pubs portfolio which is expected to come to market worth around $1 billion.

Snatched up in an off-market deal, the three hotels are situated in Unanderra, Figtree and Shellharbour and were sold by private consortium Denfish Hotels who had acquired the portfolio over a 10-year-span.

The in-one-line sale was brokered by HTL Property’s Asia Pacific director Andrew Jolliffe.

Jolliffe said that combining the three hotels with Redcape’s current south coast offering, The Lakeview Tavern, would give Redcape the geographic benefit of scale.

“Synthesising hospitality-based properties is a highly sought after strategic and commercial objective,” Jolliffe said.

“Redcape have assessed this portfolio over a long period of time, however it hasn’t been until now that a deal structure could be agreed that was both effective and efficient for both parties.”

The agents declined to confirm the trio-pub deal, estimated to be worth around $50 million, which further backs Redcape as it aims to float with its billion dollar portfolio.

Stockbroker Ord Minnett was appointed earlier this year to support the plans for a run on the ASX-boards in December.

ASX-listed Moelis purchased Redcape Hotel Group for $677 million in June last year.

Redcape owns 32 hotels in NSW and Queensland.

HotelAustraliaDeal
ADVERTISEMENT
TOP STORIES
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
5 Min
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
5 Min
Global Shifts Redraw the Map for Australia’s Office Market
Exclusive

Office Eyes Slowdown as New Stock Supply Becomes a Trickle

Vanessa Croll
7 Min
Salta MD Sam Tarascio
Exclusive

Why Salta Won’t Break Ground on $400m Pipeline

Leon Della Bosca
7 Min
Exclusive

Precinct Proposals Bloom as Brisbane Middle-Ring Sheds its Past

Phil Bartsch
8 Min
View All >
Industrial

Centennial’s Paul Ford: From Vision to Industrial Vanguard

David Di Marco
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
Planning

Bipartisan NSW Planning Reform a Welcome Surprise

Patrick Lau
The legislation, unexpectedly introduced with opposition support, has been greeted by the industry with surprise and del…
LATEST
Industrial

Centennial’s Paul Ford: From Vision to Industrial Vanguard

David Di Marco
3 Min
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
5 Min
Planning

Bipartisan NSW Planning Reform a Welcome Surprise

Patrick Lau
5 Min
Darwin Sentinel Industrial East Arm Deal hero
Industrial

Sentinel Property Expands NT Portfolio with $57.4m Buy

Phil Bartsch
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/redcape-boosts-portfolio-ahead-of-1bn-market-launch