Oscars Buys Bankstown Pub, HMC Snaps Up Shopping Center

0:00It's April 2nd. This is Sydney News Today, AI-powered stories from your city. Asuka's group just snapped up the South Terrace Hotel in Bankstown for $54 million. This gritty but cash-flowing pub on South Terrace switched hands from Red Cape Hospitality, who got tangled in that failed Taylor Square deal. Asuka's, the crew behind Sydney's iconic Luna Park, plans a major upgrade on the 2,100 square meter spot. Red capes now under MA Financial's Hotel Arm, and will funnel the cash into growth down in Southeast Queensland, beefing up spots like the plow-in, and a Ryan Hotel. Meanwhile, Asuka's offloaded five pubs in Tamworth last week for a hefty $160 million combined. Bankstown's got deep roots birthplace of XPM, Paul Keating and Cricket Stars, Steve and Mark Wall. The pub pulls crowds with its sports bar, beer garden, and 28 poker machines, sitting pretty under high-rise zoning perks. These moves echo a wave of pub flips, like Canley Vale's Richards on the park,

1:04for $64 million, and neutral-based Oaks for $140 million. Shifting gears to retail, HMC grabbed the Caring Boss Shopping Center for undisclosed bucks, last sold in 1997 for $13.2 million. Anchored by Woolworths on nearly 6,000 square meters, they're eyeing lease tweaks for long-term gains. Their funds now top $2.7 billion unlisted. And the action keeps rolling. Sinney Metro's auctioning Prime Maritville industrial land up to 30,000 square meters, while coronation. Property Greenlit Early Works on an 800 home bill to rent precinct in Waterloo, with residents possibly moving in by 2028. Sinney's property scene stays red-high.