Lewis Land Group finalises acquisition of QLD pub during pandemic
Monday, 14 September 2020
Redcliffe’s Mon Komo Hotel officially joins the Lewis Land Group leisure portfolio
Australia’s oldest private property developer, Lewis Land Group, announced today it had completed its acquisition of the Mon Komo Hotel in Redcliffe, making it the first pub transaction in Queensland to be finalised amidst the COVID-19 pandemic.
Lewis Land Group acquired the well-known Brisbane venue for an undisclosed amount. The Group has multi-million dollar plans to renovate and reposition the pub over the coming 12-months.
Mon Komo Hotel joins the Group’s stable of iconic Greater Sydney and Brisbane venues which include the Fiddler and Camden Valley Inn in NSW, and the Belvedere in Queensland. Lewis Land Group intends to use its experience reviving large format venues and apply its successful formula to the Mon Komo Hotel.
In commenting on the acquisition, Lewis Land Group CEO Matthew McCarron noted that “the Group has a proud 63-year history of creating assets that are loved by locals and visitors alike. The Fiddler, Camden Valley Inn and Belvedere are real examples of how we have been able to successfully revive the local pub by offering extraordinary experiences to people from all walks of life.”
“Our acquisition of the Mon Komo Hotel also demonstrates our commitment to and belief in the long-term future of Moreton Bay and Queensland more generally”
Together with the Belvedere, the acquisition will also make the Group one of the largest employers in the area, employing up to 200 people.
When asked about the decision to invest in a new venue during a global pandemic, Mr McCarron said that the investment was long-term and driven by a passion for the local area.
“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.”
“We have a proven track record of creating venues that provide enjoyable and high value experiences. Camden Valley Inn underwent nine months of renovations prior to officially reopening in September last year. After a long-term repositioning, the Fiddler was named NSW Metropolitan Hotel of the Year in 2019. Our incredible team will use their industry leading experience to further improve the Mon Komo and, of course, capitalise on that spectacular view!”
Mon Komo is a multi-faceted hospitality venue featuring numerous bars, dining options, as well as conference, meeting and wedding facilities. Located in the most desirable position on Moreton Bay with views across the water, Mon Komo is a 45-minute drive from Brisbane’s CBD and 25-minute drive from Brisbane Airport. The Group plans to refurbish the venue over the coming year.Back To Top