EG has acquired two fully-leased retail assets in Maribyrnong, VIC and Redcliffe, QLD on behalf of its Private Wealth division.

The latest of the two, the Anglers Tavern, at 2 Raleigh Rd, Maribyrnong VIC, was purchased for $23.33 million and is located eight kilometres northwest of Melbourne’s CBD. The property has been acquired by a new Trust which EG will be offering to wholesale clients averaging cash distributions of 8.5% p.a. across its 7-year term.

The property will be leased to one of Australia’s largest pub, bar and venue operators being Australian Venue Co. (AVC) on an initial 15-year lease term. The site also provides multiple short and long-term value-add opportunities including being located on a prime 8,200sqm landholding with absolute river frontage and potential to add further value via capital improvements. EG and AVC partnered to acquire the property from the previous owners.

In December 2021, EG also purchased 32 Anzac Avenue, Redcliffe, a beachside Brisbane large format retail asset, for $19.29 million. The site is leased to and operates as the Redcliffe Tavern and a First Choice Liquor superstore.

“Property assets in the hospitality sector present a strong platform for growth and consolidation,” said Sean Fleming, Head of Capital Transactions. “Great hospitality venues remain relevant to local communities, especially with lead operators building their reputation.”

“Assets with long-term leases and strong underlying land fundamentals represent value that our community of wholesale investors will benefit from both today and in the years ahead,” said EG’s Head of Private Wealth, Rodney Walt.

Anglers Tavern was secured off-market while the Redcliffe property was acquired off market through Jon Tyson of Savills.

EG grows the wealth of their wholesale investors through commercial property syndication opportunities. With capital security and stable income cashflows, EG takes a personalised and aligned approach to every opportunity.

Founded in 2000, EG has $4.3 billion under management on behalf of super funds and private wealth clients to generate outstanding returns with lasting social impact. With $3.9 billion in development pipeline, and 16.7% per annum in realised IRR for institutional funds, EG is committed to finding a better path to better returns.