Duxton Pubs buys Cremorne, Old Noarlunga and Woolshed hotels, and plans major redevelopments

The hoteliers behind the award-winning Uraidla, Crafers and Stirling hotels have snapped up three more SA pubs, and are planning major makeovers.

The Cremorne Hotel in Unley will be transformed to become “a lot more like The Lion in terms of look and feel”, its new owners say. Picture: Naomi Jellicoe

A new Adelaide-based pub investment fund has snapped up three SA hotels, including the Cremorne Hotel in Unley which is set for a major refurbishment.

Duxton Pubs has agreed terms with the owners of the Cremorne Hotel, the Old Noarlunga Hotel and the Woolshed Inn in Bordertown, and will soon take over the freehold and leasehold interests.

All three venues will be given a makeover by their new owner, with the Woolshed set for the biggest changes as part of a multimillion-dollar upgrade inspired by the success of the Crafers and Uraidla hotels, which are owned by Duxton’s Ed Peter.

Mr Peter recently teamed up with prominent hoteliers Martin Palmer and Brett Matthews to launch Duxton Pubs, with the The Lion Hotel in North Adelaide becoming the fund’s maiden investment last year.

Mr Peter said Duxton would put its own stamp on each of its newest acquisitions, while it continued to negotiate the purchases of several other venues in metropolitan and regional areas.

“They all fit the demographic we like – they’re all good assets, we like the communities and by spreading ourselves out a little bit we like the footprint we’re creating,” he said.

The Woolshed Inn in Bordertown is set for a major upgrade.

Ed and Julie Peter at the Uraidla Hotel. Picture: Tom Huntley

“The Cremorne, with a little bit of love and care, will end up a lot more like The Lion in terms of look and feel, and hopefully it will appeal to the community.

“The Old Noarlunga, in terms of the DNA of what we like, fits perfectly – we couldn’t have found a better pub.

“And the Woolshed will get a major change – it’s an unbelievably beautiful asset and with a bit of love and attention it could end up being another Crafers or Uraidla. It will be given a kiss of life and I think the community will be really happy.”

The Woolshed is one of two pubs in Bordertown, and includes 11 motel units which are set to be upgraded and expanded.

Meanwhile, Duxton will take over the Cremorne in the next couple of weeks, and will then shut down the venue for around six weeks while it undergoes an internal refurbishment.

Duxton Pubs raised $25m from investors last year, while other family groups led by Mr Palmer and Mr Matthews chipped in a further $15m for hotel acquisitions across SA.

Mr Peter said Duxton would seek up to $20m more from investors in the next couple of months to fund future purchases, with several potential acquisitions in advanced stages of due diligence.

Chris and Sandie Vince in the Old Noarlunga Hotel. They’ve agreed to sell the hotel to Duxton Pubs. Picture: Keryn Stevens

Collectively, Mr Peter, Mr Palmer and Mr Matthews own 19 venues across SA, including the Stirling, Uraidla and Crafers hotels, 2KW Bar & Restaurant and Paloma Bar and Pantry.

Mr Peter said the venues were trading “very well” as the local hospitality sector emerges from COVID-19.

“We’d always hoped we’d do well but we’re on the better side of our expectations,” he said.

Duxton Pubs has ambitions to become a top three pub owner nationally and plans to list on the Australia Securities Exchange within four years.