Realising Value

Engadine Tavern

Engadine, New South Wales

Year of Purchase 2018

Acquisition Price $22.3 million

Targeted Return 18% p.a.

Asset Class Hotel-pub and residential development

Passing Yield 6% p.a.

Project Highlights
  • Three assets: carpark, commercial tenancy and hotel-pub
  • Significant upside in trading ability of tavern
  • Upside in car park development to ~60 residential apartments
  • Central location in heart of Engadine, near amenities

White & Partners acquired the three-asset site following a successful residential project comprising 89 apartments in nearby Jannali (previously known as the Jannali Inn). This purchase presented a number of key opportunities for investors, particularly the upside in the ability to trade the tavern whilst undertaking development of the carpark into residential apartments.

The investment strategy involved enhancing the passing income through improved management and operations of the tavern, while achieving capital growth through the residential development of the car park.