Redcape has acquired the Plough Inn, a heritage-listed riverside pub located in Brisbane’s South Bank, in the latest addition to its Queensland portfolio.
The historic pub, which dates back to the 1860s, is known for its large beer garden and strong food-led business across the busy precinct and was previously operated by the Kickon Group.
The $40 million acquisition continues Redcape’s expansion in South East Queensland which was highlighted in its fund manager MA Financial’s ASX reporting this week.
“Redcape Hotel Group remained active in 3Q25, settling on five hotels worth $108 million,” it noted. “The portfolio is performing very well, with like for like venue EBITDA up 21 per cent in 3Q25.”
Redcape already manages The Prince Consort in Fortitude Valley, the Saltwater Creek Hotel on the Gold Coast and several pubs on the Sunshine Coast.
Its purchase of Springfield’s Orion Hotel in August took the company’s spend to $250m over the last 12 months.
Managing director of Redcape Hospitality, Chris Unger, said its long-term success made the Plough Inn an attractive addition to the company’s portfolio.
“The Plough Inn is an iconic pub in one of Brisbane’s busiest precincts,” Unger said.
“It’s proven over a long period of time to be consistently successful and busy yearround. This makes it very attractive and an ideal addition to the portfolio and we can’t wait to work with the team there to build on that success. We congratulate Craig and the Kickon team for the fantastic legacy they leave.
“Pubs remain a standout investment class. The demand for affordable hospitality and community connection is as strong as ever. Venues like the Plough are evidence of this dynamic.”
Kickon Group managing director, Craig Shearer, said his team was proud to have contributed to the pub’s history and was confident Redcape would continue to honour and grow the pub’s place in the community.
“Plough Inn has been part of Brisbane’s story for well over a century,” Shearer said.
“Our team has been proud to contribute to that history and we’re pleased to hand the reins to Redcape, who we know will continue to honour and grow the pub’s place in the community.”
The transaction was managed by Tom Gleeson of JLL Hotels & Hospitality Group, along with Leon Alaban and Joseph Ganim of Savills.
Alaban said the sale highlighted the strong demand for pubs in South East Queensland, noting that 2025 had been an active year for the sector.
“This sale further highlights the strong demand for pubs across South East Queensland. 2025 has proven to be a particularly active year for the sector, and we anticipate this momentum will continue – and potentially strengthen – throughout 2026,” Alaban said.
Gleeson added: “Plough Inn has evolved in step with the ever changing and growing Brisbane hospitality landscape. The transition from Kickon Group to Redcape’s stewardship is an exciting next step for the venue and JLL congratulates both groups on this transaction.”