August
Developer Mark Toma ordered to settle $61m pub deal
The former Virtical director was the guarantor on an agreement to buy two Darlinghurst hotels from MA Financial that did not settle.
- Larry Schlesinger
July
Redcape sells trio of pubs for $136m to meet priority redemptions
Redcape managing director Chris Unger said the group will pay out priority redemptions and provide $40 million of liquidity over the next year.
- Campbell Kwan
April
Redcape sells Sydney pub for $48m, unfreezes fund
The Crescent Hotel in Fairfield was sold to veteran publican Patrick Gallagher. It takes total divestments since asset sales began last year to more than $200m.
- Larry Schlesinger
September 2023
More Redcape hotel sales to come, but pub values holding up
Since freezing its Redcape pub fund at the end of June, MA Financial has sold four hotels for a combined $73m. Several more will also be divested.
- Larry Schlesinger
July 2023
MA Financial’s $1.47b Redcape Hotel Group freezes redemptions
Less than two years after it took the pubs outfit off the ASX with a pitch for punchier valuations, MA is struggling to settle the tab on investor redemptions.
- Sarah Thompson, Kanika Sood and Emma Rapaport
May 2022
Sydney family buys Cremorne’s Minskys Hotel for $39m
The 3344 square metre two-level strata property nestled between Neutral Bay and Mosman is the latest trophy pub to sell at a premium price.
- Larry Schlesinger
September 2021
Investors vote to delist pub owner Redcape
Investors voted overwhelmingly in a favour of delisting at a meeting in Sydney on Friday morning. Redcape lasted less than three years as a listed company.
- Larry Schlesinger
August 2021
Redcape shares surge on delisting and ‘fair value’ buyback offer
CEO Dan Brady says the buyback offer represents ‘fair value’ for investors despite being only 2¢ more than the $1.13 offer price when the pub group floated in 2018.
- Larry Schlesinger
May 2021
Redcape shares bounce after earnings upgrade
The pub owner and operator has lifted both its earnings forecast and distribution payout after improved trading across its portfolio of venues.
- Larry Schlesinger
HPI closes in on $1b of pub real estate after Sunshine Coast deal
With the acquisition of the Surfair Beach Hotel from the Scanlon family, HPI owns about $900 million of assets.
- Larry Schlesinger
Pub sector on track to beat record year of $1.3b deals
Investment appetite in the pub sector has fully recovered since the closure of venues during the pandemic in 2020, new figures from pub brokers HTL show.
- Larry Schlesinger
February 2021
Pokies, bottleshop sales, JobKeeper drive record earnings at Redcape
Redcape lifted distributable earnings 25 per cent over the half year as it benefited from higher pokies and retail liquor sales revenue. It also pocketed a $4.5m JobKeeper payment.
- Larry Schlesinger
All the key profit results for February 17
On the biggest day yet of the interim profit reporting season we have results from Coles, Westpac, Treasury Wines, Tabcorp, Charter Hall, Corporate Travel, Domino’s Pizza, Carsales, TPG, Super Retail Group, Netwealth, Asaleo Care, Bapcor, Pro Medicus, Pact Group, EBOS and McPherson’s. Find full reports and analysis here.
January 2021
Irish pub sells for $31m amid pandemic buying spree
Redcape has bolstered its portfolio of venues to about $1.2 billion with the acquisition of O'Donoghue's Hotel near Penrith in western Sydney.
- Updated
- Larry Schlesinger
December 2020
Moelis takes charge of Sydney's Taylor Square with $45m pub deal
Moelis Australia Hotel Management now owns both pub venues on Sydney's Taylor Square after buying Kinselas for $45 million from the Kospetas family.
- Larry Schlesinger
November 2020
Pub market thaws as two groups snap up $100m of venues
Redcape has bought the Gladstone Hotel in Sydney for $38 million, while Hotel Property investments has bought two pubs in Queensland and in Melbourne for $63 million.
- Larry Schlesinger
October 2020
ASX falls 0.7pc; Afterpay leads tech rally; Zip deal 'significant'
The sharemarket finished 0.7 per cent lower as BHP, CSL and Commonwealth Bank offset gains in Afterpay. Afterpay gained 4.5 per cent after inking a deal with Westpac. Tech stocks rallied for a third straight session.
- Updated
- Robert Guy, Vesna Poljak, William McInnes, Luke Housego and Tom Richardson
August 2020
Redcape 'very optimistic' after COVID-19 hit to 2020 earnings
Redcape reported a 15 per cent fall in operating earnings over the past financial year, but July 2020 trading was stronger than the same time a year ago.
- Larry Schlesinger
May 2020
Pubs 'viable' again under 50 person limit, says Redcape
Redcape boss Dan Brady says the group can make money with a 50-patron limit, but is first focused on bringing customers back.
- Larry Schlesinger
March 2020
- Opinion
- Chanticleer
Shutdown sparks solvency fears for investors
The government's's latest economic shutdown will sweep through the ASX, meaning solvency is now a real concern in the growing number of sectors where cash is drying up.
- James Thomson