Image via Brady’s Railway Hotel
Harvest Hospitality has unveiled a new open-ended investment fund targeting both retail and wholesale investors as it sets its sights on significant expansion across Australia’s pub and hospitality market. According to The Australian, the group is aiming to raise around $500 million through the newly established Harvest Hospitality Income Fund, positioning itself for a strategic growth phase.
The fund launches with three seed assets, including the historic Brady’s Railway Hotel in Albury, which Harvest Hospitality is acquiring for approximately $25 million. Already operating 12 hotels across New South Wales and South Australia, the group is now turning its attention north, with active interest in entering the high-performing Southeast Queensland market. Market sources have pointed to a potential acquisition of East Brisbane’s Shafston Hotel, along with possible interest in The Wharf marina berths development in Mooloolaba, a waterfront asset that hit the market with an $80 million price guide.
Harvest Hospitality chief executive Chris Cornforth declined to comment on specific acquisition targets, including The Wharf, which comprises 57 marina berths and roughly 7,000sqm of freehold land. The recent expressions-of-interest process for The Wharf drew strong industry attention, including well-known Sydney publican Justin Hemmes, hospitality entrepreneur Adam Flaskas, co-developer of Brisbane’s Howard Smith Wharves, and Queensland construction leader Rob Comiskey.
To support governance and investment oversight, Cornforth has assembled a committee of seasoned industry professionals, including Charlie Viola of Viola Wealth, former HPI CEO John White, and Grant Samuel CEO Damien Elias. Their involvement signals a deliberate focus on institutional-grade management and investor transparency.
The Harvest Hospitality Income Fund is targeting medium-term assets under management of $500 million, paired with a projected distribution yield of 6–8% per annum (post-fees). Investors are also being guided toward an internal rate of return of 10–12% per annum after fees. Distributions will be paid quarterly, supported by capped withdrawal mechanisms and periodic liquidity events.
The fund’s strategy is aligned with strong sector tailwinds: hospitality spending has surged 72%, banks are increasingly backing well-operated venues, and mid-scale, gaming-led and diversified-income assets continue to dominate buying activity. This offering marks Harvest’s first fund accessible to retail investors via its responsible entity, positioning the group to capitalise on long-term demographic and consumer-driven hospitality growth.
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