The long-standing Hakfoort Group has sold its iconic Redbrick Hotel in Woolloongabba to pub royalty the Mathieson family.
The heritage-listed Victorian-era Hotel was built in 1890 for Thomas Burke, who remained owner and proprietor until 1899. Several owners followed before it was renamed ‘Burke’s Hotel’ in the 1980s in his honour.
For many years it had already been known as the Redbrick – not due to the colour of its façade, but for the red 10 pound notes, known as ‘bricks’, used by bookies settling bets in the public bar.
Hakfoort Hotel Group bought the asset in 1999 and operated it on and off over the following decades. In 2017 it saw substantial works to revitalise the landmark 680sqm site, reopening after a nine-month renovation boasting a reinvigorated bar, full commercial kitchen, Bistro & Lounge Dining seating up to 120 patrons, stylish function rooms on the first floor, and a state-of-the-art gaming lounge with 30 EGMs.
The Group offered a lease to market in April last year, while still holding a suite of other pubs in Queensland. The Redbrick was arguably the smallest of the collection.
It’s understood the Mathiesons have now bought the freehold going concern in an off-market deal, for a price approaching $7 million.
Woolloongabba is just two kilometres south-east of the Brisbane CBD and the pub is well positioned to capitalise on its uplift.
“It has enormous potential for growth and development due to its close physical relationship to services and facilities and its excellent accessibility to major transport nodes. This is clearly acknowledged through State and Local Government planning for the area,” notes Savills Hotels’ Leon Alaban, who managed the transaction with colleague Tony Bargwanna.
