This article is from the Australian Property Journal archive
THE General Gordon Hotel is the latest pub to be jettisoned by Lantern Hotel Group as part of its divestment program.
Lantern said the sale price of $18.1 million of the hotel, which has been operating in Sydney’s Sydenham for more than 80 years, was at a 69% premium to its June 30 2016 book value.
The group put its Crown Hotel in Surry Hills on the market in recent weeks, hoping to realise up to $30 million, as part of its plan to offload its hospitality assets and de-list the company.
In the last few months it has sold the Five Dock Hotel in Sydney’s inner-west for $28.5 million and the Waterworks in Botany for $17.2 million.
Australian Property Journal
