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Former listed pubs owner Eumundi Group has bought Brisbane’s iconic The Caxton Hotel in an off-market $50 million deal that puts the property in the hands of Sydney-based billionaire investor and Sydney Roosters chairman Nick Politis.
The sale spells the end of nearly three decades of ownership by the Farquhar family for the property which has been at the heart of revelry for generations of Queensland sporting fans.
The Caxton Hotel’s location just 50 metres from Suncorp Stadium has made it the unofficial headquarters for pre-match and post-match celebrations during major sporting events such as the State of Origin series, rugby union tests and A-League soccer season.
The acquisition by Eumundi Group aligns with a broader strategy by the Polites-controlled parent company SEQ Hospitality Group to expand its footprint across South-East Queensland.
The Caxton Hotel joins a portfolio that includes the Treetops Tavern at Burleigh Waters, Queens Arms Hotel at New Farm, Ashmore Tavern and Aspley Central Tavern.
The Farquhar family engaged Savills Australia and New Zealand to find a buyer for the hotel which has stood on the Caxton Street site since 1864 and rebuilt in 1884 following a fire.
“The Caxton Hotel is a true Brisbane institution,” says Leon Alaban, head of hotels at Savills Australia and New Zealand.
“Its acquisition by Eumundi Group, under the strategic direction of SEQ Hospitality and Fortitudo, reflects the ongoing strength of Queensland’s hospitality sector and the enduring appeal of landmark venues.”
Fortitudo, which earlier this year completed an $80.6 million takeover of the former ASX-listed Eumundi Group, is the ultimate parent company of both Eumundi Group and SEQ Hospitality.
The Caxton Hotel acquisition comes on the heels of SEQ Hospitality Group selling another Brisbane icon, The Plough Inn, last month to Redcape Hospitality for $40 million.
The Plough Inn was part of the original Eumundi Group portfolio acquired by Fortitudo.
Alaban led The Caxton sale process, aided by Savills colleague Drew Mitchell, who has a long-standing relationship with The Caxton’s owners.
The Caxton Hotel, which is located on the corner of Caxton Street and Petrie Terrace, is at the heart of the Caxton Street entertainment precinct at Paddington in Brisbane’s inner north.
Under publican Ross Farquhar’s family ownership over the past 28 years, The Caxton has evolved into a multi-faceted venue, featuring the award-winning Char Grill & Terrace Bar and the iconic Cauldron Bar, as well as gaming facilities, function spaces and live entertainment zones.
The Caxton Hotel is one of Brisbane's oldest licensed premises and, over the years, the Farquhars have preserved the hotel’s heritage while modernising its offerings, making it one of Brisbane’s must-visit destinations for locals and tourists alike.
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