ALE Property Group (LEP)

Shares / Stock Code

LEP

Stock Exchange / Sharemarket

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ALE Property Group (LEP) is a company engaged in property investment and property funds management. ALE Property Group is Australia's largest listed freehold owner of pubs, established in 2003. LEP was listed on the Australian Stock Exchange (ASX) on 12 November, 2003. The ALE Property Group consists of Australian Leisure and Entertainment Property Management Limited, Australian Leisure and Entertainment Property Trust and its controlled entities. The Company has a portfolio of more than 100 pubs sold by Fosters Group in 2003. The pubs are leased by the company to Australian Leisure and Hospitality Group Limited (ALH) for an initial term of 25 years (to 2028).

ALE Property owns ALH through a joint venture (ALH Group).The pubs are operated by ALH and it has the exclusive right to develop the properties. But ALH does not have the power or direct right to acquire land or property presently owned by ALE. Woolworths Limited, Australia's leading retailer controls ALH Group by 75%. The balance is maintained by the Bruce Mathieson Group which is a leading hotelier. ALH Group is Australia's leading pub operator via its ownership of ALH, MGW, BMG and Taverner. Woolworth’s operations consist of Woolworths Liquor, Dan Murphy and BWS. The Company purchased Balmoral Hotel in Western Australia on July 26, 2007.