Australian Venue Co has divested its leasehold interest in Darling & Co, in Brisbane, to local sweethearts Catchment Brewing Co.
Located in the Queensland capital’s affluent suburb of Paddington, the chic bar-restaurant previously incorporated a charter cruise business on the Brisbane River.
AVC has been bolstering its Queensland venues with major capex, and as part of its continual portfolio review determined Darling & Co a “non-core” asset.
“Our focus is on a core pub offering,” explained AVC CEO Paul Waterson. “This venue was heavily function-led and didn’t really fit our operating model perfectly.”
The divestment campaign was conducted off-market by CBRE Hotels’ Paul Fraser.
Catchment Brewing Co (CBC) celebrates the heritage of brewing in Brisbane’s West End, which began in 1886. It offers that it draws inspiration for its brews from “the rich history and streetscape of our Catchment”.
Darling & Co is within a commanding corner site in a Brisbane entertainment hub, opposite Suncorp Stadium. The 2,050sqm venue will become CBC’s newest and largest Brisbane offering, expanding beyond home base on Boundary Street, in West End.
CBC CEO Matt Newberry says the company is passionate about craft beer, memorable food and great service.
“We look forward to showcasing our award-winning Catchment Beers to the local residents as well as the many visitors attending sporting matches, concerts and events at Suncorp Stadium.”
