Buyers are returning to the Sydney pub market. Deals totalling nearly $70 million were completed or agreed in recent weeks, according to market analysis from CB Richard Ellis. CBRE Hotels director Joel Fisher said historically low interest rates and attractive investment yields were rekindling buyer interest in the pub sector after a lacklustre period last year, in which investment activity was limited both locally and nationally. The increased buyer activity has been reflected in deals such as the $3.2 million sale this week of the Woolpack Hotel in Redfern and the recent $14.75 million sale of the BrewHouse Marayong. Mr Fisher said CBRE Hotels had another $50 million in pub sales under agreement. The sale of Woolpack as a going concern represented a yield of about 11.25 per cent. The BrewHouse Marayong was also sold as a going concern, by the Colosimo family, for a yield of about 11.75 per cent. Sydney Morning Herald, May 23.
When it comes to fine cuisine, Italians know how to please. This year Italian Week is set to impress Queensland’s 100,000 strong Italian community—and the rest of Brisbane when it kicks off on Tuesday at the Queen St Mall. Executive producer of Italian Week, Alessandro Sorbello, looks forward to showcasing the best of Italy’s culinary sensations, culture, and fashion. “It’s not just a festival for Italians, it’s an Italian festival for everyone,” Mr Sorbello said. Throughout the week there will be several opportunities to experience perhaps one of the most important aspects of Italian life — food. Bella Cosi Modern Italian Restaurant at Chermside plans to impress their guests with a mixture of food, fashion and music on Wednesday. The Courier Mail (Brisbane), May 23.
He’s the highest-ranked Australian chef ever, but Shane Osborn tells John Lethlean and Necia Wilden there’s more to life than Michelin. The way Shane Osborn tells it, losing a Michelin star at his London restaurant in January 2000, falling from two to one, was the best thing that ever happened to him. “I was like, ‘brilliant’,” says the Perth native who is now, arguably, the highest-ranked Australian chef ever. “I was just over the moon. But I had to be quite reserved about it all, of course.” Hang on. This is Shane Osborn of Pied a Terre. The first Australian to command a Michelin-starred kitchen (since 2000). The only Australian chef with two of the coveted stars (since 2003) from a guide that is unquestionably king-maker in Europe’s restaurant world. The Australian Magazine, May 23
Glen Hill has long been recognised as one of the state’s leading fishermen. His prowess has been officially acknowledged with his naming as the State’s leading seafood producer at the 2009 Seafood Industry Awards, hosted by the SA Women’s Industry Network this month. Mr Hill is renowned for the high quality Coorong mullet and other fish he supplies to restaurants, fish shops and other markets. His Coorong mullet is often featured on the menu at the Adelaide Hilton Brasserie and other top restaurants such as the Park Hyatt, Melbourne. Chef Simon Bryant has been out fishing on the Coorong with Mr Hill for a segment on ABC1’s The Cook and the Chef. The Advertiser (Adelaide), May 23.
Coke sizzles during fizzle
Sales of canned soup and soft drinks are increasing as the global financial crisis makes them shopping list staples. Coca-Cola Amatil expects to increase profit for the first half of 2009, thanks to strong sales from fast-food outlets and supermarkets after a hot summer. Coca-Cola Amatil group managing director Terry Davis told the company’s annual meeting in Sydney yesterday that while soft drink sales at restaurants and cafes were down, supermarket sales had more than offset the loss. “This (drop) has been more than balanced by the increased sales in quick-service restaurants and for take-home products in the grocery channel,” Mr Davis said. Restaurant and Catering SA chief executive Sally Neville said restaurant-goers might be foregoing soft drinks in favour of water. “We’re seeing that restaurant numbers are the same as they were this time last year but the spend is slightly down,” Ms Neville said. The Advertiser (Adelaide), May 23.
Melbourne’s venerable Flower Drum restaurant is under severe financial strain, with mounting debts and a slump in patronage because of the economic downturn. The famous Cantonese restaurant has suffered a fall of at least 20per cent in turnover in the past six months as “fine dining” struggles. A former employee estimated trade was down by as much as 40per cent. All three owners have been forced to remortgage their homes to keep the business afloat, according to a hospitality source. Flower Drum’s financiers are believed to be monitoring the debt-laden restaurant amid concerns that it will be unable to ride out the recession. Sunday Age (Melbourne), May 24.
Pizza’s status as an unhealthy food has been confirmed by a study showing the fast-food staple is very high in salt. More than two-thirds of take-away pizzas examined in the study were found to contain double an adult’s daily recommended maximum of salt. Four pizzas had more than three times the Federal Government recommended daily salt limit of 4g, led by Pizza Hut’s BBQ Meat Lovers (13g of salt). The study, by the George Institute for International Health in Sydney, considered 115 pizzas from Pizza Hut, Domino’s and Eagle Boys. The institute’s Jacqui Webster said no pizza chain was found to be better or worse than the others. Pizza with vegetarian or seafood toppings generally had lower salt levels. Meat-lovers’ options were generally the worst, and anchovies and olive toppings were also salt-rich. The Sunday Mail (Brisbane), May 24
Grazing away in Gundaroo
There aren’t many restaurants that grow their own vegetables on site, and taking a walk among the tomato, chilli and pumpkin patches in the back garden is a fine way to pass the time while waiting for your entree to arrive at Grazing in Gundaroo. Just be careful not to trip over one of the chickens there were several healthy looking specimens roaming freely the day we were there. Fresh produce is a theme of Grazing’s menu, with dishes featuring blood plums from their orchard, berries from the garden, and honey and cheese sourced from local providers. Housed in the gracious old Royal Hotel (established in 1865) the restaurant is a favourite of national food critics as well as Canberra families who are happy to make the 30-minute trip for lunch with rustic charm. Canberra Times, May 24.
Preparing a meal for family, friends or just oneself can be a chore or a labour of love. It’s a job that entails enormous responsibility. Every part of the process must be subject to the most rigid standards of hygiene and in our own kitchens and dining rooms they almost always are. We have no wish to endanger the health of our loved ones or ourselves. Because of hugely sophisticated technology, awareness and information there is no excuse for modern food preparing to be anything but scrupulously hygienic. The standards we set in our own homes are the ones we expect from our flourishing restaurant industry and from other food retail outlets. So it’s mighty disturbing to learn that in the past four weeks health and safety inspectors have issued fines for breaches of health regulations at a rate of more than five a day. In the 10 months since the NSW Food Authority launched its name-and-shame website, 600 businesses have been issued with 1000 fines. The Sun Herald (Sydney), May 24.
Every restaurant and cafe in NSW will receive a random health inspection in the next 12 months after Government health bosses were left reeling by the results of their latest food safety crackdown. Health and safety inspectors have issued 160 fines in four weeks. The NSW Food Authority launched a “name and shame” website in July to try to improve hygiene standards. Department officials expected to uncover kitchen nightmares but did not envisage dishing out 1000 fines to 600 businesses within 10 months. Primary Industries Minister Ian Macdonald said 40,000 food service premises would be the subject of about 50,000 inspections a year. “All food businesses in NSW are inspected according to their risk profile of low, medium or high,” Mr Macdonald said. “This guides the frequency of inspections based on the risks associated with the food, how it’s handled and the performance history of each business. The Sun Herald (Sydney), May 24.
