Deals of the Week: 21 February 2020

Deals of the Week: 21 February 2020

BRISBANE: A Sydney independent pub group, Tilley and Wills Hotels, had acquired The Elephant Hotel in Fortitude Valley for more than $20 million in its first foray into the Brisbane pub market. CBRE’s Paul Fraser and Jack Morrison in conjunction with JLL’s Tom Gleeson negotiated the sale on behalf of the Riversdale operated Australian Pub Fund.—JLL & CBRE.

BRISBANE: John Singleton’s Australian Pub Fund has copped a rare loss on a pub divestment after selling The Elephant Hotel in Brisbane’s Fortitude Valley for a little more than $20 million to Sydney operators Simon Tilley and Nick Wills. The historic four-level venue at 230 Wickham Street last changed hands for about $27 million in mid-2013.—AFR.

MELBOURNE: Solicitor Paul Webster has leased an 86sq m space at a character building in Melbourne’s western CBD. Fitzroys’ Samuel Friend and Stephen Land of Fitzroys negotiated the lease at Bennelong House, 9 Queen Street, on behalf of the Bennelong Foundation. The one-year deal with four further one-year terms was struck at $35,000 per annum plus outgoings and GST.—AFR.

MELBOURNE: A historic property at 628 Burke Road, the long-term home of Camberwell Centre Newsagency, has sold for $4.28 million. The property on a prime section of Burke Road delivered a headline result for its owners of more than 50 years, Fitzroys’ Chris James and David Bourke said.—SMH.