Former Noah’s Backpackers sells for $60m

A series of receiver-led sales of former pub baron Jon Adgemis’s hospitality assets has delivered about $170 million to creditors, with Millinium Capital Managers acquiring six flagship venues including the former Noah’s Backpackers in Bondi Beach for $60 million as part of a broader $150 million acquisition spree across Sydney pubs and hotels. More from News.com.au.

Meanwhile, Universal Hotels, owned by Harris Kospetas, has acquired Claridge House in Darlinghurst for about $19 million. More from the Greek Herald.