Lewis Land Group has announced completion of its acquisition of Redcliffe’s Mon Komo Hotel, representing the first Queensland pub transaction finalised amidst the COVID-19 pandemic.
Mon Komo is a multi-faceted hospitality venue in what is considered the most desirable position on Moreton Bay, a 40-minute drive from Brisbane or 25 minutes from Brisbane Airport.
It features views across the water, several bars and dining options, and facilities for conferences, meetings and weddings.
Lewis Land (LLG) released news of the contract to buy late 2019, in an off-market sale through Savills Australia’s Michael Simpson and Leon Alaban.
Following Queensland’s licence transfer system, hampered further by the pandemic, the purchase has been finalised for “an undisclosed amount”.
LLG has plans for a multimillion-dollar renovation and repositioning of the pub over the coming 12-months.
Mon Komo Hotel joins LLG’s interstate stable, the Fiddler and Camden Valley Inn in NSW, and the Belvedere in Queensland.
In 2019 the Fiddler was named NSW Metropolitan Hotel of the Year, following a long-term repositioning, and last September the Camden Valley Inn reopened after a nine-month renovation.
The Group plans to use its experience reviving large-format venues at Mon Komo, citing the Sydney operations as examples of how they have revived local favourites.
Along with the Belvedere, the Mon Komo acquisition will also make the Group one of the largest employers in the area, counting up to 200 staff, bolstering its statement the purchase is driven by its “commitment to and belief in the long-term future of Moreton Bay and Queensland”.
LLG is one of Australia’s oldest private property developers, founded in 1957. It says the original purchase decision was a view to long-term, while following through with the transaction in the wake of the pandemic was driven by a revived passion for “local”.
“The Group has a proud 63-year history of creating assets that are loved by locals and visitors alike,” offers CEO Matthew McCarron.
“The COVID-19 pandemic has shown us the importance of local communities. Australians are socialising locally more than ever, and the local pub has an important role to play in providing a place for people to come together.”
