HTL Property, a leading Hospitality Tourism and Leisure centric agency, announced the sale of Queensland’s exclusive Maeva Hospitality Hotel Group (Sunshine Coast); to acquisition charged Redcape Hotel Group, on behalf of two of Queensland’s most respected hotel industry veterans in what is another record-breaking deal for the sector.

The Maeva Hospitality Hotel Group, owned and operated by the highly regarded Scott Armstrong and Richard Deery; operates 4 large format hotel assets and 9 Bottle Shops all situated across the coveted and fast expanding Sunshine Coast Region of Queensland. Renowned as some of the best hotels within the state, the off-market transaction delivers significant strategic, geographical and financial representation and scale for Redcape.

All four assets were developed as greenfield sites by Maeva, incorporating their own distinctive style in order to best service the needs of the local Sunshine Coast communities. Prosperously located within coveted shopping centre precincts, the combined assets offer a WALE in excess of 45 years and enjoy a combined annual turnover north of $63 million.

The portfolio acquisition by Redcape includes Bli Bli Hotel, Baringa Tavern, Parklands Tavern & Brightwater Hotel.

“I would like to warmly congratulate Chris Unger and his team at Redcape on the acquisition of our portfolio” commented Maeva Hospitality Founder, Scott Armstrong.

“Our assets are some of the most recognised pubs on the Sunshine Coast and we would like to think arguably the best presented. We are grateful to have received multiple accolades over the years for each of our venues, and Richard and I hope to have left a legacy for the local communities with the venues we have collectively created; and which we feel confident Redcape will continue to grow into the future” Armstrong added.

Redcape has continued its focussed investment strategy; and following prosecution of this latest transaction, have now purchased ten (10) South East Queensland pub assets for a combined $220m – including the Commercial Hotel (Redbank Plains), The Flagstone Tavern (Flagstone), The Lucky Tree Tavern (Durack) and The Willow Hotel (Moorooka); all sold by HTL Property.

“The Maeva portfolio will complement and fit nicely into our existing portfolio of high performing pubs and continues our diversification and income growth strategy. On the back of continued strong trading and execution of our acquisition strategies, Redcape has once again upgraded our distribution to investors and this transaction will strengthen that further. We are excited to welcome these outstanding venues and teams into our fold and thank and congratulate Scott and Richard” advised Redcape Managing Director, Chris Unger.

The transaction was exclusively managed by HTL Property Directors Glenn Price, Andrew Jolliffe & Daniel Dragicevich; who have together sold 8 of the 10 QLD pubs recently acquired by Redcape Hotel Group.

“In 2024 Redcape set out on a deliberate path to scale up their stronghold of pubs in South-East Queensland. Identifying multiple opportunities for this strategy, we (HTL) have worked closely with our valued clients (Maeva Hospitality Hotel Group) providing them with a timely divestment strategy, capitalising upon favourable market forces. The Maeva Hospitality Group pub portfolio, astutely developed and curated by industry stalwarts Scott and Richard, is at least on par with any collection of Hotel venues across the country. Each asset exhibits not only the intrinsic fundamentals vital to a sustainably successful operation, but are also individually and strategically located within major residential growth precincts, adjacent retail centres and with almost exclusive catchments enabling them to enjoy success well into the future” advised HTL Property Director, Glenn Price.

“The Maeva Hospitality Hotel Group portfolio transaction headlines a resurgence of activity across the national pub leasehold market, as operators gravitate to the often-times higher returns available at more palatable entry prices; as opposed to a traditional freehold acquisition. This has been evident not just in SE Qld, with the Flagstone Tavern sale another example, but also in NSW with large scale acquisitions by the Feros Group and O’Hara Hotels in Shellharbour and Blacktown respectively” added HTL Property National Director, Dan Dragicevich.

“The marked resurgence, by measure of investor interest and consequent transaction volumes in Qld is of no great surprise to us, and we look favourably forward to making further market disclosures regarding more sale activity in due course” concluded HTL Property Managing Director, Andrew Jolliffe.

The four hotels were reportedly sold together with 128 electronic gaming machines and nine associated bottle shops.

Click here to view more pubs and taverns sold or for sale.