Acquisition of Viaduct venue

TRANSACT

Wed, Jun 29 2022 12:34 pm

29June 2022

Acquisition of Viaduct Venue

Auckland 29 June, 2022: (NZX:GSH) Good Spirits Hospitality Limited (GSH) is pleased to advise that a wholly owned subsidiary has entered into a conditional agreement to acquire a further venue in Auckland’s premier hospitality precinct - the Viaduct, next to its popular Danny Doolan’s bar.

The purchase price is $250,000 plus an adjustment for inventory on hand.

As part of the purchase the GSH group will take an assignment of the current lease of the premises with an initial term of 6 years with 1 further right of renewal of three years.

The agreement is subject to the consent of GSH’s financier and regulatory approval as required.

Geoff Tuttle, GSH CEO, said, “The addition of this Viaduct venue will complement GSH’s Danny Doolans site by extending its footprint and adding a new product offering to the brand. This new venue follows the successful development and opening of The Fox – A London Pub in December last year. We look forward to opening this exciting venture later this year.”

ENDS
For further information, contact:
Company Secretary
Good Spirits Hospitality Limited
[email protected]

About Good Spirits Hospitality Limited: Good Spirits Hospitality is a NZX Main Board-listed investment company focusing in the Hospitality sector (NZX: GSH). Good Spirits Hospitality Limited owns and operates hospitality venues in New Zealand’s North Island, providing places to connect with others and world class standards to provide lasting and memorable experiences to our guests and customers.
Good People * Good Times * Good Spirits