Brisbane venue The Elephant Hotel has sold, drawing in just over $20 million.
The Fortitude Valley hotel (which is located at 230 Wickham Street) has been sold as freehold going concern, meaning that both the building and its existing bars, live music venues and bottle shop are included in the sale.
According to Financial Review, The Elephant Hotel was purchased by Sydney pair Simon Tilley and Nick Wills. Their hospitality group Tilley & Wills Hotels also own venues including Sydney's Oxford Art Factory, Verandah Bar and more.
The building was sold by John Singleton's Australian Pub Fund and was purchased back in 2013 for around $27 million.
The Elephant Hotel was established in 1888, operating as the Prince Consort Hotel. Both The Foundry and the venue's courtyard area operate as key venues during BIGSOUND each year.
Over the past few years, acts including Electric Fields, A Swayze & The Ghosts, The Amazons, Wax Chattels, MID CITY, Towns, Dianas, PINCH POINTS and more have performed at the venue during the festival.
Artists including Drab Majesty, Lydia Lunch, Mickey Kojak, Didirri, Cable Ties and more all have shows locked in at The Foundry over the coming months.
The Music has reached out to Tilley & Wills Hotels for comment.
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