Paul Hogan syndicate to pay $21m for Brisbane's Queen's Arms Hotel

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Aug 24, 2017

Paul Hogan syndicate to pay $21m for Brisbane's Queen's Arms Hotel

A new $100m hotel syndicate, headed up by Nick Politis and Peter Ashelford, is set to pay $21 million for Brisbane's Queen's Arms Hotel, along with former Crocodile Dundee star, Paul Hogan.

Image: Jack Tran, The Courier Mail.

Queens Arms’ publican Chris Condon and Apollo Property Group’s Leon Bowes.
The Queen's Arms Hotel in Brisbane's Fortitude Valley.
Peter Ashelford (left) and Nick Politis.
Paul Hogan, also known as Crocodile Dundee.

A syndicate that includes former Crocodile Dundee star, Paul Hogan, is set to pay $21 million for Brisbane's Queen's Arms Hotel, on trendy James Street in Brisbane's Fortitude Valley.

It is understood the syndicate is headed up by Sydney publican and former Lewis Hotels’ head, Peter Ashelford, and Nick Politis.

The new fund is believed to be worth $100m, and recently purchased Tree Tops in Burleigh, and bought the Robert Frazer-Scott’s Boat House Tavern, Coomera, from receivers.

The vendor of the Queen's Arms is Chris Condon.

Condon, who has owned and operated the Queen's Arms Hotel for eight years, recently refurbished the pub to the tune of $5 million, taking particular care to modernise the building, but preserve its history.

It is understood Tony Bargwanna, director hotels Savills Australia, negotiated the sale on behalf of the syndicate, but he declined to comment.

The sale is expected to settle in September.

This article was first published on The Hotel Conversation.