History

Eumundi Group (EBG), under the name Eumundi Brewing Group, listed on ASX in mid 1990 with a core business of brewing and marketing a premium boutique line of beers, and operation of the Imperial Hotel Eumundi.

Following a difficult start, the brewing operations were sold in 1992, and the brewing plant was sold soon after in 1994.

Ashmore Tavern was acquired in August 1996 for M$3.6.

Eumundi diversified into retail investment property in March 2004, with the acquisition of the Aspley Shopping Centre for M$17.4, and Sunnybank Hills Shopping Centre $M12.4 each anchored by a Tavern with gaming operations and long term leases were established with an experienced hotel operator.

In 2005, the underperforming Imperial Hotel was sold at a profit of M$0.8 (before costs and tax) and the Sunnybank Hills shopping centre was sold realising a profit of M$2.9 (before costs and tax).

Using proceeds from the sale of Sunnybank Hills, in November 2006 Eumundi acquired the IGA anchored Banksia Beach Shopping Village, and adjoining vacant land to facilitate future expansion, for M$7.9.

In July 2007, Eumundi strategically acquired the Aspley Arcade Shopping Villages, adjoining the Aspley Shopping Centre, for M$13 resulting in a combined site area of 15,158 m2 of prime redevelopment land with GLA of 4,579 m2 including the Tavern premises.

In April 2010, redevelopment of the Bribie Harbour Shopping Village was complete resulting in increased area of the IGA anchor from 1,786m2 to 2,766m2, while specialty retail increased from 1,029m2 to 1,748m2. Following their acquisition of the IGA business in September 2013, Woolworths now anchor the Bribie Harbour Shopping Centre. The Bribe Harbour Shopping Village was sold in February 2015.

Today the Group operates within the hotel sector – Ashmore Tavern on the Gold Coast and interim operation of Aspley Central Tavern (previously Publovers Tavern) – and retail investment property sector – Aspley Shopping Centre and Aspley Arcade Shopping Villages on Gympie Rd Aspley.