Another West End Hospitality Asset Changes Hands Through CBRE

Brisbane’s landmark The Montague Hotel has been acquired by a family-owned hospitality group in the latest deal for the city’s flourishing West End entertainment precinct.

CBRE Hotels’ Senior Director Paul Fraser negotiated the sale of the Freehold Going Concern interest, which adds to the Brisbane-based buyer’s portfolio of Queensland pubs.

Mr Fraser noted, “Opportunities to acquire high-quality freehold going concern gaming assets within a key Brisbane entertainment precinct such as the West End are increasingly limited. These factors underpinned strong interest in The Montague Hotel, which was sold via a confidential, invite-only process.”

The Montague Road hotel was sold on behalf of Platinum 4101 Pty Ltd’s Peter Stark following CBRE’s recent sale of the nearby Archive Craft Beer Boutique to Quinn Hotels.

Positioned on a sizeable 787sqm site, the triple-storey pub comprises sports and lounge bar areas, a bistro, gaming room, commercial kitchen and 11 basement car parks. There are 10 gaming machines with current approvals for a total of 18 South East Queensland operating authorities.

Included in the transaction were three detached bottle shops.

Mr Stark said, “Having owned the Montague Hotel for nearly six years to the day, we would like to thank the local community for their support and patronage. We also would like to wish the new owners the best and look forward to seeing what the future holds for the hotel.”

A spokesperson for the purchasing group added, “We are excited about the opportunity to acquire the operations of such a landmark Brisbane hospitality venue. We also look forward to continuing the Montague Hotel’s strong connection and relationship with the local West End community.”

Mr Fraser said the West End was one of the Brisbane suburbs leading the city’s urban renewal rejuvenation, with major projects such as the West Village renewal and The Lanes residential development helping to drive the suburb’s long-term population growth and capital appreciation prospects.

“With the Brisbane Olympic Games and both the men’s and women’s Rugby World Cups rapidly approaching, the positive sentiment in Brisbane’s hospitality market is continuing to increase, despite the current difficulties associated with inflation and rising interest rates,” Mr Fraser said.

“Investors are focusing on the strong underlying fundamentals in the South East Queensland pub sector and are seeking to secure a foothold in the market in the lead up to 2032.”