The Riversdale Group, with a portfolio comprising 12 venues around Australia, is set to be broken up, with its venues put up for sale.
The first two venues for sale are the Marlborough Hotel in Newtown and Kinselas Hotel in Darlinghurst,The Shoutreports.
While Riversdale also operates venues in Queensland, the news will affect Sydneysiders in particular, given beloved venues like The Standard Bowl, Middlebar and the Vic On The Park are owned by the company. Only this year, the Vic On The Park was home to the warmly received Milk! Records showcase, featuring performances by Courtney Barnett, Ouch My Face and more.
The decision to sell has apparently been influenced by the venues’ currently strong performances, with Riversdale investors Geoff Dixon, John Singleton and Mark Carnegie keen to reap the benefits of their hard work and get out while the going is good.
For more news on this developing story, check back here at the BRAG.
