01/04/2016 - 14:53

Pilbara pub goes under

01/04/2016 - 14:53

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Pilbara pub goes under
The Newman Hotel was recently refurbished, with its capacity increasing from 64 to 200 rooms.

The Newman Hotel is in the hands of external administrators, following a failed campaign to sell the north-west pub in the latter half of last year.

Australian Securities and Investments Commission documents show Cliff Rocke of KordaMentha was appointed as administrator and receiver of Newman Hotel owner RPMG Newman Pty Ltd today.

Exact circumstances of the hotel’s collapse are not yet known.

RPMG Newman is controlled by Marcus Gilmore, chief executive of apartment sales specialist MLG Realty.

Mr Gilmore put the pub up for sale in August last year, with selling agent CBRE expecting it to fetch offers of around $20 million.

At the time of the sales campaign, CBRE said the hotel maintained a cash flow of around $1.2 million per month, largely due to an occupancy rate of around 80 per cent.

Mr Gilmore declined to comment when contacted by Business News this afternoon.

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