The portfolio located in Mollymook and Port Stephens, NSW, features 145 rooms and world-renowned Rick Stein signature restaurants.
This acquisition is the latest addition to the Salter Brothers Retreat Fund platform which now contains 17 properties and follows completion of Salter Brothers’ recent acquisitions including Kingsford the Barossa, the Escarpment Group and the Spicers Retreats portfolios, all of which were advised by MinterEllison.
Salter Brothers manages over $4 billion in assets, with their hotel funds platform holding 41 hotels in Australia and the USA with over 5,000 rooms and over 50 restaurants and bars.
MinterEllison has partnered with Salter Brothers from its inception, handling all acquisitions across all of its fund platforms.
The MinterEllison team was led by Partners Joseph Pace and Alice Langham.
Partner Joseph Pace, said: “This acquisition is a testament to Salter Brothers’ expertise and commitment to the hotel industry with a unique market leading platform that appeals to both the international and domestic corporate and leisure markets. It continues to be an absolute honour to be part of the Salter Brothers journey from fund inception in 2015 to best in class owner.”
