Property Stocks Down Under 3 August 2022: Hotel Property Investments (ASX:HPI)
Hotel Property Investments: You can still raise a glass to this property market
Rising interest rates have hit many segments of the property market, but pubs are not one of them. Pubs rarely change hands, but would-be buyers have to pay up when they do. This is because of their long WALE, landlord favourable leases and high underlying land value. 2021 was a record year for pub transactions and 2022 is actually more of the same. One prominent broker, HTL, sold more pubs between mid-June and mid- July than any 4-week period in the country’s history (~$300m). And since the privatisation of Redcape, Hotel Property Investments (ASX:HPI) is one of the few options left on the ASX for investors wanting to play this segment.
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