Redcape Hotel group acquires the Redbank Plains Pig ‘N’ Whistle

Redcape Hotel Group announced that it has exchanged contracts to acquire the Pig ‘N’ Whistle Hotel in Queensland's Redbank Plains for a total purchase price of $11.5m, before transaction costs. 

The acquisition will take the Redcape portfolio of assets to 33. 

It is a leasehold hotel located in the LGA of Ipswich.

The venue is a top-ranking Queensland gaming venue with a good food and beverage operations. 

Redcape Hotel Group CEO Dan Brady said, “While our growth strategy is predominantly focused on freehold assets with alternate land optionality, we also have the appetite to pursue quality value accretive leasehold opportunities that meet our investment criteria and align with our objective of growing and diversifying our earnings.” 

“The acquisition will further Redcape’s exposure to the region’s strong projected growth and enable us to positively contribute to Ipswich’s diverse and close-knit community through the provision of jobs, early career training, and quality hospitality experiences.”