NSW: Pub sales

IRIS Capital has bought the Grumpy’s Hotel in Sydney’s southwest for about $11 million.

It comes after the recent purchase of the Cock and Bull Hotel in Sydney’s Bondi Junction for $20 million.

Irish Capital chief executive Sam Arnaout this week told The Australian that the group was eyeing more growth before it considers floating the operation.

“The IPO is absolutely on the radar for the group and it is something we are continually exploring and working towards,” Mr Arnaout said.

The Grumpy’s Hotel has 21 gaming machines and has been recently renovated. The site also has development potential.

JLL director John Musca said that Canterbury was one of Sydney’s leading gaming areas and pub values in the suburb was increasing.

PRICE: $11m

BUYER: Iris Capital

AREA: 1222sq m (site)

AGENTS: John Musca and Sam Handy, JLL

A PRIVATE investor has bought The Lucky Australian Hotel in Sydney’s west for $5.3 million.

The hotel has 20 gaming machines and extended trading hours.

It is 200 metres from St Mary’s train station.

PRICE: $5.3m

BUYER: Private investor

AGENT: Sam Handy and John Musca, JLL

Source:  The Australian - December 2014