Australian Pub Fund operator Riversdale Group has announced it will soon close the iconic Stock Exchange Hotel in inner-city Brisbane for good.
The announcement came via social media late last week that the “Stockie” would cease trading Sunday 13 December, leaving thirty staff out of work.
The heritage-listed pub first opened in 1863 in the Queensland capital’s financial district.
Records show Riversdale (APF) bought the freehold going concern in August 2013, on 911 square metres in the central CBD, from the former Independent Pub Group (IPG) for a State record figure of $35 million. IPG had sold APF the nearby Elephant Arms Hotel for $27 million earlier the same month.
Riversdale relaunched the Stockie following an extensive renovation.
While the group sold off The Elephant to Tilley & Wills earlier this year, it has not divested the Stock Exchange and post-pandemic conditions in Queensland have seen it forced to operate at less than 30 per cent capacity.
Last week the Queensland government further relaxed COVID-19 restrictions allowing more patrons inside venues, but it is not expected this will be enough to make the Stockie viable.
