Joe’s Waterhole at Eumundi purchased by Good Drinks Australia in $5.3m deal

The new owners of an iconic Sunshine Coast pub say the charm of the front bar will be retained throughout a redevelopment of the venue.

A redevelopment of an iconic Sunshine Coast bar is brewing after a West Australian company snapped it up in a $5.3m deal.

Good Drinks Australia plans a redevelopment and facelift for Joe’s Waterhole after it recently purchased the Eumundi venue.

The brewers of the Matso’s brand, best known for its chilli and mango beers and ginger beer, want to turn the Memorial Ave bar into an “exciting hospitality venue and brewery”.

It was purchased from owner of 16 years Brett Lewis in a sale completed by CRE Brokers’ Mark Walsh.

Good Drinks Australia chief operating officer Aaron Heary said while the redevelopment would include a facelift, the iconic front bar would be retained.

“The redevelopment will include a facelift and installation of a fully functioning brewery that can produce the entire suite of products that Matso’s has become famous for,” Mr Heary said.

Memorial Drive, Eumundi, showing Joe's Waterhole. Picture: Erle Levey

“The existing traditional front bar will be retained and feature prominently in our new Queensland venue.”

The ASX-listed company said the purchase provided an exciting opportunity for Matso’s to expand into the tourism precinct.

It aims to brew an additional two million litres per year of Matso’s brands for the broader Queensland market.

They said the venue would complement the original Broome Brewery.

“Matso’s was born in Broome, but it’s a brand that resonates strongly across the country, particularly in Queensland,” Mr Heary said.

“Both Matso’s Broome and Eumundi are heritage listed sites and full of character, providing a link that truly speaks to the Matso’s brand.”

The scope of the redevelopment would be guided by regulatory approvals and community feedback.

It was in line with the company’s strategy to create up to five venue breweries in key Australian markets.