PGA Sales- last chance for buyers

Bouillabaisse from Mr Mason 

Expressions of interest close this week (Thursday September 25) on three high-performing leaseholds in Melbourne. The venues are all currently run by the Publican Group Australia (PGA), the company founded by John Ahern and Steve Garcia.

The three sites available are Campari House, which has an annual turnover in excess of $4 million; Veludo Bar & Restaurant; and the fine food-oriented Mr Mason. The sales are being handled by Jones Lang LaSalle.

 PGA, one of Australia’s most successful new breed of pub groups, operating seven sites in Melbourne and five in Perth, is believed to be selling several of its smaller venues in order to help fund some larger acquisitions.

Earlier this year, the company signed a 15 year lease on Perth’s iconic Guildford Hotel, which is now being refurbished after fire nearly destroyed the building in 2008. PGA’s newest Melbourne venue, on the site of 214 Swan Street in Richmond, formerly the Commonwealth Bank, is expected to open its doors in mid-2015.

Source: The Shout - 24th September 2014