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Hampshire Hotel Camperdown

We realised early in 1987 that asset values were very high and the yields on which you could sell assets was too low. We sold both the Lakes Hotel and Wentworth Avenue by the middle of 1987 and kept our funds in cash. We went overseas for 3 months to come back and assess investment opportunities. During our time away the stock market crashed in October 1987 and with it the bubble of asset values.

We were offered the Hampshire Hotel, which was under lease, with an option to acquire the freehold at a fixed price. We acquired the lease and immediately exercised this right and bought the freehold.

The Hampshire was a small hotel on Parramatta Road in Camperdown. The hotel needed to be cleaned and painted throughout. Clientele had drifted away and we had to improve the food and service to win them back. We also introduced pool tables and poker machines in the main bar. Once we got the hotel operational we leased it out, recovering our capital outlay and holding it debt free until the market for hotels improved.

Lakes Hotel Gardeners Road Rosebery

Our family company had been operating hotels in New South Wales on brewery leases. In 1982 Random Breadth Testing was introduced in New South Wales and the Neville Wran Premier of New South Wales told the hotel industry that they would be allowed to have… Read more

47 Wentworth Avenue

Our accounting practice was leasing premises in York Street and we were faced with a steep rent review. We decided to look for premises to relocate the accounting practice to. 47 Wentworth Avenue was a 4 storey warehouse and office building occupying a small… Read more

Hampshire Hotel Camperdown

We realised early in 1987 that asset values were very high and the yields on which you could sell assets was too low. We sold both the Lakes Hotel and Wentworth Avenue by the middle of 1987 and kept our funds in cash. We went overseas for 3 months to come… Read more

Airport Lodge Botany

We had cash at our disposal it was time to invest again in underpriced assets. We recognised the need for budget accommodation near Sydney Airport. The sites we were offered carried too much risk in terms of financial commitment. Having purchased the… Read more

Lavington Lodge Albury

After we sold the Hampshire Hotel and the Airport Lodge, we had a brief stint of renovating properties in Queensland. We acquired a 32 perch block with an old weatherboard house, and subdivided the land into two 16 perch blocks. Then we moved the existing… Read more

Lavington Gardens

We had a land bank adjacent to the Lavington Lodge Aged Care facility that we had built, and we obtained a DA from Albury Council to build 20 two bedroom retirement homes on these sites. These were to be built in 4 stages of 5 houses a stage. We marketed the… Read more