By Clyde Mooney
The pub real estate market is looking healthy for Ray White Hotels, with $62 million of agreements in place and an expanded service offering.
The new big player in pub sales has announced the appointment of Paul Hall in the role of valuer, as part of its expansion plans into advisory services and sales on a national basis.
Hall is an eight-year veteran of the hotels industry, having worked with nearly all major pub property trust funds and the majority of banks. He has been brought into Ray White Hotels (RWH) to head up the valuation team, complementing its sales and advisory services.
Managing director Andrew Jolliffe told TheShout RWH currently has at least $60 million worth of properties under agreement, and will soon announce another freehold sale, with a long-term lease to a national, listed tenant.
"Naturally, we can't speak about off-market transactions, but once they have been exchanged we will let you know the details," he said.
RHW's sale of the Caringbah Inn Hotel is still the largest commercial property transaction to date this year, reported at $45 million. It is currently awaiting merger approval from the Australian Competition and Consumer Commission.