Saloon showdown in city’s west draws strong interest

A pub in the growth corridor west of Brisbane has been snapped up as independent hotel operators continue to quench their thirst.

The Walloon Saloon west of Brisbane has sold for $4.8 million.

A PUB in the growth corridor west of Brisbane has changed hands as independent hotel operators continue to quench their thirst for strong trading assets.

Walloon Saloon — a watering hole on the outskirts of Ipswich — has been snapped up

as freehold going concern in a $4.8 million deal.

It has been acquired by longtime Brisbane-based hoteliers David and Trish Gibson, who also own the Bungalow Hotel in Cairns.

Facilities include a public bar and TAB area, lounge bar/bistro, 35 gaming machines, commercial kitchen, bottle shop and outside areas.

Power Jeffrey & Co’s Andy Nason brokered the deal on behalf of southeast Queensland pub baron Tony Prentice, who is divesting the majority of his hospitality portfolio.

Mr Nason said there was strong interest in the Walloon Saloon with about 20 inquiries fielded from local and interstate hotel operators resulting in two offers.

“There’s a lot of activity in the sector at the moment, especially in the southeast corner of the state,” he said.

“It’s a real mix of groups — big and small — but the strong independent operators with portfolios of two or three hotels, they’re out there in force looking for more properties and are the best buyers.”

Walloon Saloon was sold as part of a combined land holding of 8106sq m site across three separate titles on the corner of Queen St and Haigslea Amberley Rd, Walloon.

Mr Nason said the two adjoining alottments, including a vacant parcel of 4047sq m and a house and land block of 1353sq m offered the new owner future development upside.

“The region provides unprecedented business and growth opportunities in the future and that was a big drawcard,” he said.

“It’s a growth area, close to Amberley, and there’s a lot of new housing estates being developed nearby.”