By Clyde Mooney
Yesterday hotel real estate agents CBRE announced the sale of another 20 venues from the portfolio of the recently-bankrupt National Leisure & Gaming.
The leaseholds in NSW and Queensland are for sale individually or ‘in-one-line’ in a hotel offering that is likely to never be repeated.
The bundle includes the award-winning Eastwood and Willoughby Hotels, the Mount Annan Club and the Livingstone Hotel at Petersham, with gross turnover in excess of $110 million and more than 500 EGMs.
Many of the properties hold long-term leases with landlord, Redcape Property Fund. NLG slipped into receivership in October and receivers PPB Advisory announced the immediate sale of two of its worst-performing venues.
The RPF leases for sale are:
Bristol Arms Retro Hotel, Sydney CBD
Campbelltown Club Hotel
Cremorne Hotel
Doonside Hotel
El Cortez Hotel, Canley Hts
Keighery Hotel, Auburn
Leumeah Club Hotel
Moonee Beach Tavern, Coffs Harbour
Oasis Hotel, Bankstown
Revesby Pacific Hotel
St George Hotel, Belmore
St Marys Hotel
Tacking Point Tavern
Hermit Park Hotel, Townsville
Shamrock Hotel, Mackay
A further 11 venues leased from independent landlords are also being offered for sale.