Fortitudo Group had added to its Queensland-focused portfolio with the acquisition of the five Eumundi Group assets across the state.
The portfolio the Ashmore Tavern on the Gold Coast and the Aspley Tavern in north Brisbane, as well as the freeholds of Aspley Central Shopping Centre, the Courthouse Hotel Murwillumbah on NSW’s far north coast, and the renowned Plough Inn on Brisbane’s South Bank. The portfolio sale was guided by Savills Australia on behalf of Eumundi Group.
“This landmark transaction is yet another example of the strong momentum we are seeing across South-East Queensland, where demand for high-quality assets remains at an al ltime high,” stated Leon Alaban, head of hotels at Savills Australia and New Zealand.
“The appetite from buyers continues to be robust, reflecting confidence in the region’s growth and resilience. Additionally, Savills is set to announce several more sales throughout Queensland in the coming weeks, further reinforcing the strength of the market.”
This multi-venue acquisition strengthens Fortitudo’s growing portfolio, which already features venues such as the QA Hotel in New Farm, Treetops Tavern in Burleigh, the Ambassador Hotel at Redcliffe plus other pubs and several retail liquor outlets. Fotitudo is expected to drive continued growth and operational success across the going concern assets.
The Eumundi Group assets are strong addition to the Fortitudo portfolio. Ashmore Tavern underwent a major renovation in 2021, with a new entry, sports bar deck, atrium deck, garden terrace and garden deck areas which have doubled the available seating capacity and delivered function capability. The gaming room was also renewed with all the latest equipment.
Aspley Central Tavern is situated within the Aspley Central Shopping Centre on Gympie Rd Aspley, Brisbane’s major northern arterial road, with superior access from both north and southbound traffic, and excellent exposure to commuter traffic. The recently expanded gaming room now enjoys full bar facilities and a Keno lounge along with 45 gaming machines. Plough Inn is leased to Kickon Group, while Courthouse Hotel Murwillumbah is leased until 2036.
“We are pleased to have completed the takeover of this portfolio, as it will enhance Fortitudo’s overall group strength and expand our presence in South-East Queensland,” stated Andrew Prothero, CEO of Fortitudo Group.
Prothero emphasised that the region continues to be a key focus for strategic investment, given its strong growth potential and vibrant economic landscape.