An innovative Brisbane publican is moving on to “push the boundaries” – divesting his highly successful Alfred & Constance and Limes Hotel businesses.
Since its launch in 2008, Alfred & Constance (A&C) has become one of Brisbane’s best-known pubs. It resides in two old timber ‘Queenslanders’, and includes eateries Alfredo’s Pizzeria and Kwan Brothers.
A&C was the creation of Brisbane entrepreneur Damian Griffiths, who also transformed the stylish 21-room Limes Hotel on the same block.
Both businesses are up for sale, as Griffiths realises plans to focus on some of his more recent successes – Doughnut Time and Mr Fitz icecream parlours.
Griffiths says he has needed to assess “where my passions lie” and deliberate on how to grow his businesses sustainably.
“There was no way to predict the journey we have taken over the last five or so years and I’ve had very limited opportunity to really look at where we’ve come from and have total clarity around what I’d ideally like the future to hold,” he says.
“I love developing new concepts and brands and bringing them to market, there’s nothing quite like it as far as I’m concerned. I’m excited about the growth of Doughnut Time and we have big plans for that to continue.”
The popularity of Doughnut Time has near exploded, and nearly 30 outlets are now sprinkled along the east coast.
This has led to the decision to part with the Brisbane hospitality assets, coming at a time when south-east Queensland hotels are in high demand.
“Unlocking the capital in these two businesses will free me up to really focus on where I want to go professionally, and I feel like this is the point in my life where I am best positioned to continue to push the boundaries in this regard,” explained Griffiths.
Both assets are being marketed by JLL Hotels’ Tom Gleeson and Tom Gibson.
Set in one of Brisbane’s fastest-growing precincts, surrounded by residential and commercial development, A&C is a popular day/night venue with integrated offerings and efficiencies that make it a destination.
The inclusive A&C business is for sale via Expressions of Interest, closing 14 December, 2016.
The boutique Limes Hotel is also for sale via Expressions of Interest, closing 8 December, 2016.