Sydney’s Marlborough Hotel sold

The Riversdale Group, owned by Paddy Coughlin, John Singleton and Geoff Dixon, has acquired the Marlborough Hotel in the Sydney suburb of Newtown for $12.2 million.

Riversdale Group’s founder and chief executive Paddy Coughlin said the Marlborough is the seventh Sydney hotel purchased by the Riversdale Group.

“Our target is to build a $150 million pub portfolio and this purchase takes our combined pub assets up to around $85 million,” he said. “We’re half way there.”