Plough Inn Tavern, Brisbane sale to tenants

Publican Dave Argus has purchased The Plough Inn Tavern, the heritage listed tavern in Brisbane’'s South Bank precinct.

The Plough Inn Tavern opened in 1885.

The price of more than $10 million was paid by the tenants of the building after a JLL expressions of interest campaign.

The pub, which is across the river from the Brisbane CBD at 29 Stanley Street Plaza, has been recently refurbished.

“We are delighted with the result given the end purchaser was the highly respected tenant who has worked on the business tirelessly for over 10 years,” said JLL senior vice president of pub investment sales Paul Fraser.

It was sold by South Bank Corporation, which following the Queensland State Election, has been controlled the Brisbane City Council.

SBC offered a 99-year leasehold.