Legendary RE pub goes on the block
Brisbane’s famed Royal Exchange Hotel in the river suburb of Toowong is hitting the block with investors tipped to chase an asset that holds a long lease to newly listed Endeavour.
The pub is being sold by the listed ALE Property.
The lease on the Brisbane watering hole runs until 2068 and Endeavour, which recently spun out of Woolworths, has flagged that it will expand, although is not likely to chase the freehold.
The RE is set across 2453sq m of commercial property, and Endeavour operates three retail bottle shop outlets.
Burgess Rawson and HTL Property will auction the property on August 4.
“The Royal Exchange Hotel is a highly regarded suburban hotel operation and the stability offered by having the nation’s largest hoteliers as its listed tenants is a compelling proposition,” HTL Property director Glenn Price said.