HTL Secures First New Year Mandate

Peak Invest Pty Ltd ACN 601 201 183 ATF Peak Unit Trust
Five Islands Invest Pty Ltd ACN 611 874 410 ATF Five Islands Investment Unit Trust
Surry Hills Pub Invest Pty Ltd ACN 616 890 432 ATF Surry Hills Pub Unit Trust
Four By Four Investments Pty Ltd ACN 641 104 761 ATF Four By Four Investments Trust
(All In Liquidation) (together “the Companies” or “Property Entities”)

Following a disagreement between shareholders and pursuant to orders made by the Supreme Court of NSW on 22 December 2021, Andrew McCabe and Joseph Hayes of Wexted Advisors were appointed as receivers and managers of the assets* and undertakings of the Property Entities, including the Hotel Assets (Receivers), and granted powers under Section 420 of the Corporations Act 2001 (Cth) (Act) to divest the Hotel Assets.

Further to the Court Orders, the directors of the Operating Entities appointed Sule Arnautovic and John Vouris of Hall Chadwick as voluntary administrators to continue trading the businesses, while Wexted Advisors take the Hotel Assets to market.

The highly regarded Marlow Hotel Group, which enjoys a management agreement for the portfolio of pubs, is continuing to assist in the ongoing day to day trading of the Hotel Assets, and working with both sets of administrators to take the Hotel Assets to market.

Today, Wexted Advisors appointed Andrew Jolliffe, Sam Handy, Dan Dragicevich and Blake Edwards of leading firm HTL Property as the exclusive marketing agents to take the Hotel Assets to market.

Andrew Jolliffe, Managing Director of HTL, advised that with the level of interest shown in the Bittini Portfolio in December 2021 (and the cap rates obtained at between 3.5% – 4.5%) HTL Property is excited to market the Hotel Assets for sale for the administrators and the investors. “The four hotels are historically, and continue to be, very strong trading assets” advised HTL Property Managing Director, Andrew Jolliffe.

“Importantly, the appointment of an independent entity to bring about the sale process now avails these high-quality properties to a transaction landscape in short supply of AAA Grade product” Mr Jolliffe concluded.

Wexted Advisors are currently working with Hall Chadwick and the Marlow Hotel Group to prepare the Hotel Assets for market later this month.

Wexted Advisory Partner Andrew McCabe advised that he has already received over 10 unsolicited expressions of interest from interested parties; and one in-one line offer for the assets.

“The premarket interest has been very encouraging, however all interested parties should now contact the HTL Property team for further details” advised Mr McCabe.

End.