National Leisure and Gaming has settled on its $14 million purchase of two Queensland leasehold businesses.
NLG has bought the Andergrove Tavern in the Queensland regional city of Mackay and the Wynnum Point Hotel in Brisbane, bought for $7.5 million and $6.5 million respectively.
NLG’s managing director Noel Phillips said the purchase of the leasehold business of the Andergrove Tavern involved a long term lease of 50 years, including options.
NLG already owns Mackay’s Shamrock Hotel which it bought in mid November last year.
The Andergrove Tavern is located five kilometres north of Mackay’s city centre.
Included in the Andergrove complex is a large public bar, a 40-machine gaming room and Keno lounge, a bistro with seating for 200, and a new function room that can cater for 400 guests.
Earlier this month, NLG settled on the purchase of the leasehold interest in the Wynnum Point Hotel, located south-east of Brisbane.
This property was acquired on a 45 year lease term, including options.
NLG has a current portfolio of five hotels, which includes the landmark Magnums Hotel in Airlie Beach.
“Our objective of building a portfolio of 20 pubs, with an initial focus upon Queensland, remains on target,” Phillips said.
By Kathryn O’Meara
