Newly Listed Endeavour Group Fly Out of the Blocks with Huge Sydney Purchase

Specialists Dan Dragicevich, Brent McCarthy and Andrew Jolliffe of national agency HTL Property have exclusively managed the first post listing sale to Endeavour Group (ASX:EDG); and joint investor Charter Hall in the form of Sydney’s large-format Terrey Hills Tavern.

The sprawling Northern Suburbs operation, sold by highly regarded hotelier Chris Feros for approximately $40m, is a particularly popular hotel operation occupying almost 16000sqm.

“Having owned the hotel for over 16 years, we engaged HTL to find a suitor commensurate with the scale and earnings profile of our family hotel asset; and are delighted to have transacted with both Endeavour Group and Charter Hall” advised Feros.

With considerable recent experience in selling large format and generational hotel assets throughout Australia, such as the Ivanhoe Hotel (Manly) and the Gregory Hills and Narwee Hotels both in Sydney’s South West; HTL Property advise of a very active sale process for the Terrey Hills Tavern.

“The highly competitive sales process for the ever popular, ultra-large format Terrey Hills Tavern drew considerable national interest from a variety of buyer profiles befitting its intrinsic property fundamentals and trading volume” advised HTL Property National Director, Dan Dragicevich.

“It is broadly accepted within the asset class that AAA grade properties such as this are in scarce supply, hence the importance of ensuring both visibility and accessibility on a very public and national level was paramount to the outcome achieved” Dragicevich added.

“The Endeavour Group is a paragon and like others of its ilk and strategic imperative, including Redcape and AVC, finds itself enjoying the fire power and corporate capacity needed to consolidate a still fundamentally fragmented asset class” concluded HTL Property’s Managing Director, Andrew Jolliffe.

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