Duxton Pubs Group – the hotel investment fund created by esteemed South Australian publicans Ed Peter, Brett Matthews and Martin Palmer – has acquired three new pubs spread out across South Australia.
The new acquisitions are the Cremorne Hotel in inner-Adelaide; the Old Noarlunga Hotel on the city’s southern outskirts; and the Woolshed Inn in Bordertown, located near the state’s border with Victoria. The three pubs were purchased separately from different vendors.
The acquisitions take the group’s portfolio to four hotels, joining the Lion Hotel in Adelaide’s CBD, purchased in July last year.
Within their own family portfolios, the three publicans own and operate more than 20 pubs across South Australia, and the three new Duxton Pubs Group buys were purchased with their locations in mind in relation to those other venues.
“Between Brett, Martin and myself we’ve got 24 venues now all up, and these [new pubs] all fit in nice geographic holes within those portfolios,” explained Peter.
“We are doing our best to expand our footprint a little bit more rurally, hence the Woolshed in Bordertown. We’ve got other rural assets that have worked well for us, so it’s a nice balance for the portfolio.”
After an extensive renovation and COVID restrictions, The Lion Hotel reopened in early November and has been doing well for the group. Renovations are also planned for the three new pubs, with the Woolshed Inn to undergo the most extensive transformation.
“All of them will get a little bit of love and attention, but they all have good bones. We’re not going for a wholesale change, but we’ll put a little bit of a stamp on them. The one that will probably see the biggest renovation is the Woolshed in Bordertown because it’s a lovely old building that just needs a big rework,” stated Peter.
Duxton Pubs Group expects to add another three or four pubs to its portfolio, with Peter suggesting they will look for a fairly even split between regional and metropolitan assets.
Image: (Facebook/Cremorne Hotel)