BAM Launches Book Build

26th October 2015

Bondi Asset Management launches its fund raising efforts for its initial fund – SLGPG Fund No. 1 (Vauxhall)

BAM is looking to raise as much as $15.7m to fund its purchase of the Vauxhall Inn at Granville. BAM has identified Western Sydney as a growth corridor for its gaming and leisure assets and believes that being situated on the corner of Parramatta Road and Church Street puts the Vauxhall Inn in an ideal position to benefit from the expected population growth that will be seen in the area over coming years. The proximity to both Granville and Harris Park train stations makes this site ripe for potential development with the strategy of the Manager to seek a change in the zoning of the property. The Vauxhall Inn is currently ranked number 65 in the state in terms of gaming revenue with a number of nearby hotels sitting higher on the rankings suggesting room for significant growth. BAM has secured the services of two partners to maximise the return from the Vauxhall Inn. Eastern Hotel Group will be retained to run the Vauxhall Inn and maximise the earnings from both gaming and bar takings whilst The King Property Group will be retained to undertake rezoning and development efforts.