The Pullos family is offering to market one of Brisbane’s most iconic pubs, The RG’s, for the first time in over 20 years.
Occupying 1,537 m² and two prime corners of the Brunswick Mall in bustling Fortitude Valley, the Royal George, popularly known as The RG’s, is a veritable destination in its own right, incorporating under one roof brands Fatboy’s Café, Rics Bar & Rics Backyard, Brunswick Street beer garden and the Brunswick & Ann bar.
Minutes from the Brisbane CBD, the three-level pub boasts multiple bars, TAB, extensive food offers, gaming lounge with 38 EGMs, and 32 accommodation rooms reportedly “ripe for renovation”.
The Pullos family have owned it for over 20 years, and The Australian reports price expectations are around $40 million for the landmark pub.
The RG’s is being marketed by JLL Hotels in conjunction with Power Jeffrey & Co. Agents report it enjoys round-the-clock patronage every day and maintains strong growth, as it is effectively multiple hotel offerings within one venue.
Locally-based Power Jeffrey & Co director Robert Hunter offers that its consistency is underpinned by the prime exposure, and largely attributable “to the intense ongoing development growth occurring in Fortitude Valley”.
The freehold going concern asset is in the midst of transformative commercial and residential growth, with some 10,000 new apartments and numerous commercial projects. It enjoys significant height allowance (STCA) itself, and JLL national director John Musca says the property will no doubt interest ambitious operators.
“Iconic capital city hotels are rarely offered to market, and The RGs offers a substantial earnings base and ideal trading platform for operators looking to expand their national presence with a strategic Brisbane city asset.”
The Royal George is being sold via an Expressions of Interest campaign, closing Wednesday 10 May.