New operator vows to take historic Fox Hotel in South Brisbane to ‘next level’

A VICTORIAN-based hospitality operator has secured its first pub in southeast Queensland after acquiring the leasehold of a historic inner-city hotel.

National operator Colonial Leisure Group has acquired the leasehold for The Fox Hotel in South Brisbane.

A VICTORIAN-based hospitality operator has secured its first pub in southeast Queensland after acquiring the leasehold of the historic Fox Hotel in South Brisbane.

Colonial Leisure Group bought the leasehold for the four-level hotel and function venue in a off-market deal struck by JLL Hotels & Hospitality Group’s Tom Gleeson and John Musca.

“CLG’s operational nous has all the ingredients exist to take the Fox Hotel to the next level.”

CLG also took over the lease struck by the previous operator three years ago which has 27 years left to run including options.

Mr Gleeson said the transaction was the perfect fit.

“The combination of South Brisbane’s enormous infrastructure and development work with CLG’s operational nous has all the ingredients exist to take the Fox Hotel to the next level,” he said.

CLG was formed eight years ago when Computershare founder Chris Morris purchased the hospitality assets of Empire Beer Group.

Since then he has created an extensive pub, resort and restaurant portfolio with operations in Victoria, Western Australia, Britain and far North Queensland

The Fox Hotel at 71-73 Melbourne St has a gaming room, public bar, bistro, multiple break away function spaces and the rooftop bar that overlooks the Brisbane CBD.

The transaction forms part of $55 million worth of recent Queensland sales by JLL. They include Melbas Tavern ($12.5 million) in Surfers Paradise to Leda Holdings owner Bob Ell, and the acquisitions of The Boathouse Tavern ($13.9 million) in Coomera and the Treetops Tavern, in Burleigh ($20 million) by a Sydney-based pub syndicate.

Mr Musca said: “These sales highlight national hoteliers’ and hospitality operators continued appetite for portfolio spread across capital city locations and large, high profile opportunities of this calibre offering invaluable branding and trading opportunities are rare.”