Hotel giant’s $250m Qld spending spree lands historic Brisbane pub

The 160-year-old Plough Inn has become the latest addition to Redcape’s growing pub empire, as the hospitality giant continues its aggressive Queensland expansion.

The historic Plough Inn hotel in Brisbane's South Bank.

Growing pub giant Redcape, which has spent over $250m on hotels over the past 12 months, has added another landmark to its portfolio.

The $1.5bn MA Redcape Hotel Fund, which is managed and operated by MA Financial Group, has acquired the Plough Inn in South Brisbane for about $40m.

Located in the heart of South Bank, Plough Inn is a heritage-listed riverside pub – with a history going back to the 1860s – and is renowned for its idyllic beer garden and high-volume food-led business, currently operated by the Kickon Group.

Managing director of Redcape Hospitality Chris Unger said the Plough Inn was an iconic pub in one of Brisbane’s busiest precincts.

A historic photo of the Plough Inn in Brisbane.

“It’s proven over a long period of time to be consistently successful and busy year-round,” he said.

“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.

“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.”

Redcape’s last purchase in South East Queensland was the Orion Hotel in Springfield for $30m and it has also acquired the Maeva Hospitality Hotel Group and its four large format Sunshine Coast hotels for about $80m.

Redcape Hospitality managing director Chris Unger.

Other pubs it has purchased include the Prince Consort in Fortitude Valley and Saltwater Creek Hotel on the Gold Coast.

Kick On Group managing director Craig Shearer said the Plough Inn has been part of Brisbane’s story for well over a century.

“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,” he said.

The transaction was managed by JLL Hotels & Hospitality Group Tom Gleeson and Savills’

Leon Alaban and Joseph Ganim.

Mr Gleeson said the 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,” he said.