Portside Tavern Port Pirie Sold to Black Rhino Group by JLL
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Portside Tavern Port Pirie Sold to Black Rhino Group by JLL
Black Rhino Group have continued their foray into the South Australian pub market with the purchase of the Freehold Going Concern of the Portside Tavern, Port Pirie. The transaction was brokered exclusively by JLL Hotels & Hospitality Group’s Vice President, Will Connolly.
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JLL Hotels & Hospitality GroupBlack Rhino Group have continued their foray into the South Australian pub market with the purchase of the Freehold Going Concern of the Portside Tavern, Port Pirie. The transaction was brokered exclusively by JLL Hotels & Hospitality Group’s Vice President, Will Connolly. -
JLL Hotels & Hospitality GroupBlack Rhino Group have continued their foray into the South Australian pub market with the purchase of the Freehold Going Concern of the Portside Tavern, Port Pirie. The transaction was brokered exclusively by JLL Hotels & Hospitality Group’s Vice President, Will Connolly. -
JLL Hotels & Hospitality GroupBlack Rhino Group have continued their foray into the South Australian pub market with the purchase of the Freehold Going Concern of the Portside Tavern, Port Pirie. The transaction was brokered exclusively by JLL Hotels & Hospitality Group’s Vice President, Will Connolly. -
JLL Hotels & Hospitality GroupBlack Rhino Group have continued their foray into the South Australian pub market with the purchase of the Freehold Going Concern of the Portside Tavern, Port Pirie. The transaction was brokered exclusively by JLL Hotels & Hospitality Group’s Vice President, Will Connolly. -
JLL Hotels & Hospitality GroupBlack Rhino Group have continued their foray into the South Australian pub market with the purchase of the Freehold Going Concern of the Portside Tavern, Port Pirie. The transaction was brokered exclusively by JLL Hotels & Hospitality Group’s Vice President, Will Connolly.
Black Rhino Group have continued their foray into the South Australian pub market with the purchase of the Freehold Going Concern of the Portside Tavern, Port Pirie. The transaction was brokered exclusively by JLL Hotels & Hospitality Group’s Vice President, Will Connolly.
The $3.6m million sale marks the group’s second acquisition in the state, with further transactions set to be announced in the in coming weeks, setting the market alight in what has been an active period since the introduction of bank note accepting technology in Electronic Gaming Machines in the state’s gaming sector.
"The SA market has certainly seen a spike in transactional activity in the last six months, with interstate operators such as Black Rhino Group now identifying opportunities that have allowed them to acquire in a more rapid rate than in more tightly held markets such as Victoria”, stated Mr. Connolly.
"Naturally, this has encouraged existing operators to test the market and be rewarded with premiums seldom seen”.
One of the best presented hotels in the region, the Portside Tavern, having undergone a recent refurbishment, presented purchasers with a spacious bistro with ‘Café Primmo’ branding, a 32 machine gaming lounge, first floor nightclub, craft gin bar all complimented by a 2am late night liquor licence.
Dave Tomsic, director of Black Rhino Group stated he was drawn to Port Pirie and its rapid development in recent times, with the $24m redevelopment of the Memorial Oval Precinct and newly transformed Nyrstar Smelter, employing over 1,800 workers.
With long time owner Brad Perks stating, “the Portside has been an incredible business to our family for the past 10 years, having now operated the hotel completely under management over the last two years, we saw the time as right to hand the reins to new operators with fresh eyes.”
“We see Black Rhino Group as the perfect party to take the property to it’s next level in a location that’s growing by the day’.
The market momentum continues with JLL having a further $250 million of pub assets under due diligence or final contract in Q2 2021 right around the country, with further off-market sales within South Australia to be announced in the coming weeks.
To request a sale analysis please email the selling agent Will Connolly of JLL via the below contact form.
