171-181 Robertson St, Fortitude Valley sold in a $32m deal.

A high-profile engineer has paid $32m for Brisbane’s prized ‘Robertson on James’ site after fierce competition from Australia’s wealthiest investors.

It’s understood James and Bianca Durack, civil engineers who founded Durack Civil and Boldstone, a Brisbane-based land development and community-building company, are the buyers, following a competitive marketing campaign run by Tom Barr of Ray White Commercial Queensland.

171-181 Robertson St, Fortitude Valley.

171-181 Robertson Street, Fortitude Valley.

Positioned in the heart of the renowned James Street precinct, 171-181 Robertson St, Fortitude Valley attracted 170 buyer enquiries predominantly from high-net-worth private investors and developers.

“To achieve a sale price over $30 million for this site reinforces the strength and attraction of the James Street precinct,” Mr Barr said.

“The area is recognised as one of Australia’s most tightly held retail and lifestyle precincts, protected by extremely high barriers to entry and complemented by the highest quality surrounding development.”

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171-181 Robertson Street, Fortitude Valley.

Located diagonally opposite the highly acclaimed five-star Calile Hotel and 1km from Brisbane’s CBD, the 1,651 sqm site features two commercial buildings that are 100 per cent leased generating a net income of $1,175,245.35 per annum.

The property has no existing development application or approval, however the existing tenancy profile of the property allows for vacant possession of the site to be obtained in 2028.

“The property offers multiple opportunities for the new owner, including development of a luxury project, residential, hotel, commercial, mixed-use or land bank, with the opportunity to realise strong positive rental reversion over the next few years as the existing leases expire,” Mr Barr said.

171-181 Robertson Street, Fortitude Valley.

Mr Barr said the campaign received attention from some of Australia’s wealthiest individuals and many high-profile luxury property developers from Sydney and Melbourne, highlighting the precinct’s appeal and high barrier to entry.

“This sale represents a rare changing of the guard for a highly coveted ownership group within the James Street retail precinct, which has largely consisted of the same owners since the precinct’s inception” Mr Barr said.

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Universal Hotels, which now owns around 15 venues across Sydney, has snapped up one of Newtown’s most recognisable pubs after it first went to market in July last year. 

The Carlisle Castle Hotel at 17 Albermarle Street in Newtown, sold towards the end of last month, marking the first time in 60 years it has traded hands. It had been on the market for around 10 months.

Newtown’s Carlisle Castle Hotel has traded hands for the first time in 60 years. Picture: realcommercial.com.au

The vendors were the Hassett family, headed by 92-year-old Marie Hassett, who celebrated her 90th birthday in the pub only two years ago. The family had owned it for the entire six decades.

Hotel specialists MQ and Associates had managed the sale, with director Leonard Bongiovanni saying the sale had attracted a lot of interest.

“The property represented a generational opportunity, and the level of enquiry reflected the continued demand for quality inner-city hotel assets,” he said.

The Kospetas family, who head Universal Hotels, were identified as the purchasers, adding to their portfolio of hotels including the Oxford Hotel in Darlinghurst, and the Civic Hotel in the CBD. It acquired five pubs in 2025 alone.

The Carlisle Castle Hotel is a Newtown icon. Picture: realcommercial.com.au

MQ and Associates’ director of sales Tom Cullen said there is strong demand for well-located metropolitan hotels “with both character and upside”.

While a sales price wasn’t disclosed, MQ and Associates said there was strong interest, reflecting the strength of Sydney’s pub culture.

Big bucks for the beer barons

Pubs are increasingly big business, especially in Sydney, where hotels have historically been tied to working class communities and territories, interwoven with parochial links to rugby league.

HTL Property managing director Andrew Jolliffe – himself a Sydney Roosters board member – explained this to realcommercial.com.au in March.

“The history of pubs in Australia has been one that commenced originally as brewery leases and families were identities in a different suburbs and they needed to participate in the community and be hospitable,” he said.

Pictured at one of his pubs, The BellÃs Hotel at Woolloomooloo in Sydney is Arthur Laundy. Many of the pubs he owns remain as they have been for years – un-renovated with only minor updates. Picture: Richard Dobson

The popularity of Sydney watering holes has been recognised internationally, with Kuleto’s in Newtown – formerly the Milton Hotel – snapped up by US-based Pride Holdings Group, which focuses on serving the LGBTQ community.

It also owns the Stonewall Hotel in Darlinghurst.

The vendor of Kuleto’s was Donna Asensio who had owned it for more than 40 years.

At one time Ms Asensio also owned The Hampton Court Hotel, originally established in 1877 and the oldest in Newtown, as well as the Beresford Pub in Surry Hills.

She previously told The Daily Telegraph she missed the days of pre-gentrified Newtown.

Other recent inner-west pubs to hit the market include Erskineville’s Kurrajong Hotel, and the Town and Country in St Peters.

Pub power could also be further consolidated after tycoon Jon Adgemis amassed $1.8 billion in debt, declared bankruptcy, and was forced to sequestrate his 20-plus pubs, including the Kurrajong.

Former pub baron Jon Adgemis. Picture: Liam Mendes / The Australian

Ray White Research found the hotel sector amassed $4.72 billion in transactions in 2025, up 42.5% from 2024, with average deals reaching $13.88 million.

A growing part of this is the pub scene, according to Ray White head of research Vanessa Rader.

“Pubs remain a particularly hot investment class, with their strong locations and income streams not going unnoticed by private and institutional buyers alike,” she said.

“This momentum looks set to continue as offshore investors respond to Australia’s tourism recovery and reputation as a stable investment destination.”

Publican Donna Asensio misses the old days of Newtown. Picture: Alex Coppel / The Daily Telegraph

The relaxing of lockout laws is also set to strengthen the sector.

While individuals and small family-run operations are increasingly muscled out of the sector, perhaps the most well-known family-run conglomerate is Laundy Hotels, headed up by billionaire Arthur Laundy. They are key sponsors of the Canterbury-Bankstown Bulldogs.

The pub tycoon snapped up the Woy Woy Hotel for $40 million just over a week ago, adding to his portfolio of around 40-50 venues primarily across New South Wales.

Still, this is small fry compared to international giants such as Endeavour Group, which spun out of Woolworths Group in 2019, and owns or operates upwards of 400 venues around Australia.

Australian Venue Co is firmly in second place, owning or operating around 200 venues Australia-wide.

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An $88m shopping hub with 42 new stores, a full-line Coles and 377 car spaces is set to reshape Werribee’s Riverwalk as infrastructure catches up with housing growth.

An $88m shopping hub is set to bring 42 new stores and a new Coles to Werribee, easing the Watton St parking battle.

Riverwalk Village will span 26,000sq m across two sites, developed by Oreana, at the corner of Newmarket Rd and Princes Hwy, anchored by a full-line Coles supermarket and Liquorland.

The development will include 377 car spaces, aimed at relieving pressure on the busy strip where drivers often circle for up to 15 minutes during peak times.

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Named tenants confirmed to date include Anytime Fitness, Direct Chemist Outlet and Oceana Health, alongside with other food and beverage operators, forming a combined dining, health and day-to-day services precinct for the Riverwalk community.

The project lands in one of Melbourne’s fastest-growing western corridors, where thousands of new homes have been delivered in recent years while retail infrastructure has lagged behind population growth.

Colliers Melbourne project leasing manager Chris McLaren said strong enquiry from operators reflected the scale of the existing catchment surrounding the site and the establishment of a new hub.

Watton St in Werribee, where drivers can circle for up to 15 minutes during peak times as parking pressure builds. Picture: Apple Maps

Riverwalk Village concept showing the 26,000sq m precinct planned.

“Parking in Watton St can be extremely challenging, so delivering a site where people can easily access everyday services without circling for 15 minutes is a major point of difference,” Mr McLaren said.
“It’s more than a shopping destination, Riverwalk Village is a vibrant hub where community and convenience come together.”

He said while Riverwalk was technically a greenfield development, it effectively functioned as infill given the established and expanding population around it.

Oreana managing director Tony Sass said the $88m investment was designed to service a maturing suburb.

Artist impression of the Coles-anchored Riverwalk Village development, set to include 42 specialty stores and dining options.

Concept image of Riverwalk Village, which will feature 377 car spaces aimed at easing Watton St parking pressure.

“This investment reflects our confidence in the continued growth of Werribee and the surrounding catchment,” Mr Sass said.

Early works are already underway, with the centre to be delivered in two stages.
The first retailers are expected to open in the first half of 2027.

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Aussie retailers are reinventing themselves with Instagram-worthy experiences in a bid to revive in-store shopping amid rising online sales.

The move is seeing retailers go above and beyond to creatively lure in customers, particularly Gen Z, offering in-store experiences from rooftop basketball and rock climbing to novel selfie opportunities and all-day services.

Aussie stores that have recently revealed plans to revolutionise for the future include Sass&Bide. It announced all stand-alone boutiques and department store concessions would close by the end of January while the company rebranded. Online sales would close at the end of February.

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Mecca Bourke Street experiential beauty destination opened August 2025. Picture: @meccabeauty Instagram

The in-store florist. Picture: @meccabeauty Instagram

“While we’re offline, we’ll be re-imagining what Sass&Bide can and should look like,” Sass & Bide said in a statement.

Kmart Group managing director Aleks Spaseska last year also revealed the retail giant’s aim to grow to $20 billion in turnover, expanding in the face of increasing competition and working to appeal to younger buyers.

According to Ray White head of research Vanessa Rader, certain stores are opting for a reduced amount of locations instead with creative in-store experiences forming brand awareness and loyalty paired with online buying opportunity.

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Rebel sport Melbourne rooftop basketball court. Picture: @whatsonmelb Instagram

Rebel Sport Rundle Mall basketball court. Picture: Naomi Jellicoe

“It’s not all about the volume of stores, it’s more about these handful of stores that have a different point of view,” she said.

“There’s definitely no doubt that the Instagram-worthiness of a store or even just the common areas of a centre – is actually really really important.

“Melbourne central is a really good example – the Rebel store there, and the same sort of theory has happened to a lot of rebel stores in Sydney, they have the basketball facility.

“How many people are always wandering through Mecca and Sephora, they aren’t necessarily buying things there but there’s a lot of activations that make people excited to go back.

“Look at PopMart, there’s a big online following as well.”

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David Jones Bourke Street colour-changing selfie suite. Picture: David Jones, Tik Tok

Inside the Selfie Suite in the Bourke Street store. Picture: David Jones, Tik Tok

Ms Rader said savvy shopping centre operators are also maximising opportunity by treating every space as potential for experience creation, with traditional entertainment anchors like cinemas no longer sufficient.

Consumers are seeking interactive experiences ranging from immersive entertainment venues to affordable, luxurious dining destinations, she said.

“A lot of the big shopping centre owners have really identified this, this is not a new thing, this has been happening since Covid,” Ms Rader said.

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The beauty station outside of its selfie suite. Picture: David Jones, Tik Tok

“It could be rock climbing or e-gaming, there’s lots of different things people are doing in centres that aren’t necessarily shopping.

“They are just being more creative getting people back into the shopping centres, it’s not necessarily about buying but it’s just about providing a really good experience so that they can increase their dwell time and stay in that centre for a longer period of time.”

According to Ms Rader, this also includes department stores.

“We have seen that with the continual closures of David Jones and Myer over the last however many years,” she said.

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Inside the three-level Mecca Bourke Street store. Picture: @meccabeauty Instagram

Ms Rader said this reinvention is needed for stores to survive, particularly for the clothing and soft goods segment.

“That’s the part that has been continuously declining in terms of retail spend,” she said.

“There is the fast fashion on offer, the Temu and Shein affect even Kmart that can do dupes of things.

“A lot of the clothing retailers have collapsed over the last number of years, they’re having to really reinvent themselves to make themselves relevant.”

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