QHA-Review_August_Digital

NEWS
QHA REVIEW | 16
SNAPPED UP
THE DEVELOPERS OF ONE OF BRISBANE’S MOST
BELOVED ENTERTAINMENT PRECINCTS, HOWARD
SMITH WHARVES (HSW), HAVE ACQUIRED SYDNEY’S
ICONIC MANLY WHARF.
HSW exchanged contracts with TMG Developments in
June, where the Manly Wharf was sold for $80 million.
The duo behind the transformation of the Queensland
heritage-listed waterside precinct, Adam Flaskas
and Paul Henry, have a track record of revitalising
historical sites, with the Manly Wharf predicted to be
no different.
Adam said they are honoured to be the new
custodians of the historic and iconic Manly Wharf.
“We’re looking forward to deeply connecting with
the Manly community and providing a family-friendly,
sustainable and cultural entertainment precinct offering
the freshest, highest quality produce to the local
community and visitors of Manly Wharf.
“With such incredible history in the area, we’re excited
to embark on this new journey, breathing new life into
such an iconic site. Manly has a loyal community that
welcomes people from everywhere to this special
place where the harbour meets the beach.
“Sustainability will be a big focus of ours, firstly
focusing on landfill diversion. We’ve been able to
achieve 95% landfill diversion at Howard Smith
Wharves, which will be a big goal to work towards,” he
said.
The historic Manly Wharf was originally constructed in
1855 as a passenger terminal for the Sydney-to-Manly
ferry. Since then, the precinct has been made into
a hospitality and entertainment destination home to
various venues including Queen Chow, Hugo’s, Sake,
El Camino, The Bavarian Bier Café and The Wharf Bar.
Paul said he was born and raised in Sydney, so has
very fond memories of Manly and its special offerings.
“I am so excited for what the HSW team plan to bring
to Manly, respectful of its iconic history, the local
community, the natural playground and the visitors to
our great city,” he said.
One of the area’s most iconic businesses, Manly Wharf
Hotel, was also acquired by HSW for $20 million.
Adam said they are looking forward to operating the
hotel, which is at the heart of both the Wharf and the
local community.
“Team retention will be a key focus through the
transition. This is a new and exciting chapter in Manly
Wharf’s history,” he said.
The Sydney property was one of TMG Development’s
very first purchases. The company’s chairman and
CEO, Robert Magid, said when they originally acquired
the site it was built with its back to the harbor and the
tenants not paying their rent.
“We saw the great potential. We redesigned the wharf,
took advantage of the amazing location, added a floor
and brought in some excellent tenants.
“We are delighted that we have sold the wharf to such
a focused, imaginative and competent team and wish
for HSW to take the wharf to an international stage,”
he said.