By James Atkinson
Ray White Hotels Australia has announced the appointment of industry specialist Max Cooper to head up its hotels advisory business.
Cooper has been providing expert asset management and valuation services for 25 years in Australia, New Zealand, Asia, Europe and the Middle East, predominantly for Jones Lang LaSalle.
Speaking to TheShout, Cooper was upbeat about the pub market's current standing.
"The investment market for hotels still quite liquid and relatively strong compared to counterparts in other parts of the world – both in terms of asset sales and performance," he said.
"The industry is not stressed, but obviously in a more constrained economic environment."
Ray White has enjoyed success recently with multiple transactions involving pub operating giant, ALH, the latest being the $10 million sale of the Iron Horse Hotel, in Cardiff.
Ray White Hotels managing director Andrew Jolliffe told TheShout that sales such as this, with a long-term, blue chip tenant like Woolworths, can also attract investors that are not from a traditional pub background.
"It's very reassuring for a passive investor to have this unparalleled quality of rental covenant," he said.
"The tenant pays all outgoings, annual rental increases are set equal or better than inflation and the ownership title for the valuable hotel licence and poker machine entitlements can often reside with the landlord."
The Iron Horse was listed on TheShout's new pub real estate page, Pub Sales.
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