09 December 19 - Media Release
National law firm Holding Redlich has acted for ASX-listed Elanor Investors Group on its acquisition of two iconic boutique hotels in the Adelaide CBD.
The acquisitions of the Mayfair Hotel and Adabco Boutique Hotel were completed on Thursday 5 December 2019.
The Holding Redlich team, led by partner Scott Alden (Projects and Major Transactions) and partner Cameron Sheather (Major Property Transactions) advised Elanor during the transaction through to its completion.
The deal team also included Workplace Relations & Safety partner Louise Rumble, Property & Real Estate senior associate Vanessa Scrivener, Corporate & Commercial senior associate Georgia Milne, Projects associate Victoria Gordon, Property & Real Estate associate Phillip Minas, and Property & Projects lawyer Lauren Stables.
Key deal details:
Firm: Holding Redlich
Deal: Acquisition of the Mayfair Hotel and Adabco Boutique Hotel by Australian investment and funds management business Elanor Investors Group.
Value: In excess of $100m
Area: Tourism and hospitality
Key players: Holding Redlich partners Scott Alden (Projects and Major Transactions) and Cameron Sheather (Major Property Transactions).
Deal significance: These two boutique South Australian hotels, both beautiful historic properties, are very well known in Adelaide. The transaction is part of Elanor Investors Group’s continued expansion into the hospitality and tourism sector.
Quote from lead partner Scott Alden about this deal:
“Holding Redlich drew on its experienced transactions team to cover all of the property, corporate, projects and workplace relations aspects and close a very successful deal for Elanor,” Scott said. “In addition to these properties, Holding Redlich is acting for Elanor on its restructuring of the world famous Cradle Mountain Lodge property.”