By Vanessa Cavasinni, editor Australian Hotelier
Lantern Hotels has listed three of its pubs on the market, selling two venues in Australia and one in New Zealand.
The ASX-listed hospitality group has recently put up for sale The Brisbane Hotel in Perth, The Dolphin Hotel in Sydney, and The Alberts Hotel on the North Island of New Zealand.
While The Dolphin Hotel in Surry Hills is both owned and operated by Lantern Hotels, both the Brisbane and The Alberts properties are operated by other publicans. The Brisbane is one of the most popular pubs in Perth, and is operated by noted publican Geoff Hayward, whose business Capital Management WA has the lease for the hotel until 2020, with four 12-year options available.
The sale of the three venues has been suggested to Business News by Lantern CEO John Osborn as a strategic move by Lantern Hotels to divest the company of non-core assets.
In its 2015 annual report Lantern Hotels said that as at 30 June 2015 its New Zealand portfolio consisted of three properties, adding: "Engagement with selling agents is ongoing to actively market the properties and they are expected to be sold in the next 12 months."
Lantern Hotels was approached for comment but declined to do so.