Historic pub, Dan Murphy’s fetches $13.5m
A prominent historic pub and neighbouring Dan Murphy’s in Brisbane’s inner-west have sold for $13.5 million.
The result for the 2414 square metre corner holding at 404 Montague Road, West End, reflects a 4.26 per cent net passing yield.
ASX-listed Endeavour Group arm ALH is the tenant on a lease expiring in 2032 with six five-year options.
The weighted average when the 1184 sqm asset hit the market in March was 5.7 years.
The Raven Hotel occupies the two-level pub at the north-east corner of Raven Street.
The Dan Murphy’s generates 87pc of the $574,936 yearly income.
Rent rises are annual linked to CPI and turnover,
Land tax will be recoverable from 2032.
JLL’s Ned McKendry, Tom Gleeson and Jacob Swan with TBRE’s Tony Bargwanna and Molly Bargwanna acted for the seller, the George Group. The asset was held via Ralph Lauren Pty Ltd.
The buyer is Oxford Commercial Investments Pty Ltd.
Prior to 1995, the property was owned by the Co-Operative Association Queensco-Unity Dairyfoods Co-Operative Ltd (continues below).
Raven Hotel
The two-level Raven Hotel was built in c1889.
Its original owner, Nicholas Walpole Raven, intended to call it the Musgrave Arms Hoel but failed to secure a liquor licence amid West End’s temperance movement.
Raven subsequently rented the building to the Salvation Army before establishing the West End Club, which served alcohol.
The property was fully licensed the Raven Hotel in 2022.
The Dan Murphy’s tenancy was between 2015-2022 the London Stores grocer.
In 2024, Queensland Ballet Victoria paid $3.26m for the property next door, 394 Montague St.
West End is about three kilometres from the CBD.
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