THE Tankstream Pub and Leisure Group has bought a fourth pub asset in the Dry Dock Hotel in Balmain.
Tankstream has paid $5.15 million for the historic Dry Dock Hotel, Balmain’s oldest licensed hotel. The property was acquired on a yield of just under 10%.
Located adjacent to
Tankstream also owns the nearby Bald Rock Hotel in Rozelle and is expected to achieve operational and management synergies from the two assets.
Tankstream Funds Management’s managing director Craig Williams said pubs are an asset class with traditional property sector characteristics.
“Investors are recognising the potential for pubs to provide attractive income returns and capital growth,” he added.
Tankstream’s other assets include Macquarie Arms in Windsor, NSW; Amaroo Tavern in Moree, NSW; Bald Rock Hotel in Rozelle, NSW.
Australian Property Journal
