Property giant Charter Hall and superannuation fund Hostplus have taken control of a majority stake in Hotel Property Investments during a protracted takeover battle for the pub landlord, setting their sights on compulsory acquisition of the ASX-listed company.

Charter Hall and Hostplus’s $760 million takeover offer of HPI had received acceptances from 52.38 per cent of investors as of Wednesday. That allows its takeover offer to be declared unconditional despite strong opposition from the HPI board.