The popular Eagle Street Pier bar and restaurant complex will come under new management starting next month, the first time changing hands since its opening in October 1986. 

The purchasers, Australian Venue Co. also operates Kingsleys and the Buffalo Bar in the Brisbane CBD, who also own more than 50 pubs in Queensland, Victoria and NSW. 

One of the owners, Nigel Kilvington, declined to reveal the sale price but said an unsolicited approach was made by Australian Venue Co in the middle of 2017. An agreement was finally struck within the past three weeks. “There was no real driving factor for the sale,” he said. “The timing appeared right for a variety of reasons.’’

Firday's, boasting views over the soon to be complete Howard Smith Wharves, is a strategic purchase for the group with the seven projects redefining the Brisbane CBD over the next 10 years being valued at over $12.4 bn; part of over $20bn in projects across the city reported by Cushman and Wakefield. 

The redevelopment of the 3.4ha Howard Smith Wharves site will include a 5-star 'Art Series' hotel, exhibition space, restaurants and a new riverside parkland. The heritage wharf buildings will be renovated and converted to house the restaurants.

Friday’s has been operating by Nigel Kilvington along with Brian and Kim Weller of the Weller Hotels & Taverns group and Warren Rowles.

GPT Group, which now owns Riverside Centre, resumed about half of Friday’s space to build its One One One Eagle Street office building but the bar still has about 1400 sq m of floor area.

Savills Hotel Directors’ Tony Bargwanna and Brent McCarthy together with Leon Alaban were involved in negotiating the off market transaction.

Source: Brisbane Courier Mail

See also:

Brisbane Mercure and Ibis Hotels sold for $77 million

Brisbane's Jubilee Hotel redevelopment and office tower upgrade

$2 billion ‘Brisbane Live’ world-class entertainment precinct