8 Leasehold pubs bought for $100m+ by AVC

Marc Pallisco – The Realestate Source – reports AVC (Australian Venue Co backed by KKR) has purchased 8 leasehold pubs from Sand Hill Road for circa $100m. Sand Hill Road had the portfolio under due diligence just as COVID struck early 2020 and that deal subsequently stalled. Now they’ve kicked on brilliantly – well done. The pubs include:

• The Esplanade Hotel, St Kilda
• Garden State Hotel, Melbourne
• Bridge Hotel, Richmond
• Richmond Club Hotel, Richmond/Cremorne
• Holliava, Richmond/Cremorne
• The Posty, Richmond/Cremorne
• The Terminus Hotel, Abbotsford, and
• The Prahran Hotel, Prahran

https://www.realestatesource.com.au/avc-buys-eight-melbourne-pubs/