ING Entertainment Fund - ING Real Estate

 

ING Entertainment Fund is an affiliate of ING Real Estate, one of the world’s biggest companies involved in the investment, development

and management of office, residential, entertainment, retail and industrial properties all over the globe. In particular, ING Entertainment Fund or IEF concentrates its property investments in the areas of entertainment and leisure.

IEF believes that hotel and pub investments are still strong even with the unstable general property market. It has pubs, clubs and hotel

investments across Australia. Since Brisbane is known for its pubs, with

its definitive long bar, relaxed atmosphere and pub cuisine, IEF also has investments in Brisbane’s pub market.

 

It balanced the possible effect of the implemented smoking ban on patronage by undertaking redevelopment of venues and the upgrade of entertainment to ensure the quallity of the bar experience for its clientele.
 

ING Entertainment Fund - ING Real Estate

Its investments have resulted in a $17.966 million net income for the half of fiscal year which ended on December 31, 2007. This was an increase from

the previous $11.312 million. IEF also reported a distributable income increase of 28% in June 2007.

Part of its financial strategy is to spread its hundreds and millions of borrowings among various secured facilities that have maturities with an average

term of three or four years. It shields itself from changing interests through fixed interest borrowings. It also makes sure that it proceeds with care on expansions and has diverse investments in quality assets, signing long-term leases with affordable rentals. Part of its success is also partnering with experienced and capable operators and management.

Its first acquisition in Western Australia is the Brisbane Hotel, with its Brisbane Bar, in the upscale Highgate suburb near the center of Perth.

The original Brisbane Hotel was built in 1898. It has been renovated, incorporating new with the old. The hotel won for 2005 and 2006 “Hotel of the Year” during the prestigious Australian Bar Awards. It is not only a must-see among visitors, but also a favorite among the local population.

From this high-end establishment, IEF proves the diversity of its investment with its acquisition of the Exchange Hotel in Brisbane, which is also known

as “Stocky”. It is located in the center of Brisbane along Edward Street. People can reach it by bus, train or car. It is well-known to be a great pub with a dancefloor that fills up with people who move to current dance music as well as music from the eighties. It is spacious and also has areas for pool tables and pokie machines. The Stocky has a very good beer selection and it keeps its prices affordable.