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Media veteran Bruce Gordon recently sold the Scarborough Hotel, north of Wollongong, to Glenn Piper’s rebranded Epochal group for $9.5 million through agency Colliers.

HTL Property also advised on the sale of the sprawling Jerrabomberra Hotel, in Queanbeyan, to pub fund juggernaut Harvest Hotels.

“There’s a strong parallel between the timing of these deals and where we are at in the yield cycle, which indicates prosperity and more deals in the pubs space,” Jolliffe said.

In another recent pub double deal, the MA Redcape Hotel Fund, now part of the MA Financial group, bought the leasehold of the Criterion Hotel, in the Sydney CBD. Redcape also sold the Crescent Hotel, in Sydney’s Fairfield, to the privately held Gallagher Hotels, the two transactions totalling about $70 million.

The transaction was brokered by JLL Hotels managing director John Musca and executive vice-president Ben McDonald, who said that with varying investment mandates and portfolio aspirations, “this deal aligns perfectly with the corporate focus for both Redcape and Gallagher Hotels at this time”. JLL are also selling the Evening Star pub in Surry Hills.

Savills Australia’s new agent, former Wallaby Drew Mitchell, has been appointed to sell the Empire Hotel in Annandale, owned by high-profile Public Hospitality Group (PHG), led by Jon Adgemis.

PHG has amassed a portfolio of 22 pubs and hotels in Sydney and Melbourne, including the Camelia in Alexandria, Lady Hampshire in Camperdown, and Strand Hotel in Darlinghurst. However, it is trying to refinance debt and is starting to sell some of its pubs.