Eumundi GroupEumundi GroupEumundi 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 $3.6 million.
The Group diversified into retail investment property in March 2004, with the acquisition of the Aspley Shopping Centre for $17.4 million, and Sunnybank Hills Shopping Centre $12.4 million 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 $0.8 million (before costs and tax) and the Sunnybank Hills shopping centre was sold realising a profit of $2.9 million (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 $7.9 million.
In July 2007, the Group strategically acquired the Aspley Arcade Shopping Villages, adjoining the Aspley Shopping Centre, for $13 million 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. IGA was replaced as anchor tenant by Woolworths in 2014 and in February 2015 the centre was sold for $13.15 million.
In March 2013, the Group assumed control of Publovers’ Tavern, a tenant of the Aspley Shopping Centre, as mortgagee in possession. In August 2015 an upgrade to the tavern was completed at a total cost of $0.85 million and the business was relaunched as Aspley Central Tavern.
In November 2017 the Group acquired the 96-year head lease on the land and buildings of The Plough Inn, one of Brisbane’s iconic hotels, for $13.1 million plus acquisition costs. Located in the premiere tourist and leisure precinct, Southbank Parklands, the premises are leased to an experienced hotel operator on a long-term, triple net lease, with all costs borne by the lessee.
A major refurbishment of the Aspley Shopping Centre and Aspley Arcade Shopping Villages was undertaken between November 2018 and November 2019 at a total cost of $5.373million.
Capital works were undertaken to the Aspley Central Tavern between July and September 2019 to modernise and extend the venue’s gaming lounge at a total cost of $0.687 million.
In August 2021, the Group acquired the land and buildings of the Court House Hotel, Murwillumbah NSW, for $6.379 million plus acquisition costs. The Court House Hotel business is owned and operated by an experienced hotelier under a triple net lease with an initial term of 15 years with four further options of ten year each.
A major capital works program was undertaken at the Ashmore Tavern between April 2020 and September 2022 at a total cost of $5.387 million increasing patron capacity to 650 pax through the addition of four indoor and outdoor dining areas, more than doubling the size of the venues gaming lounge, upgrading bathroom amenities and providing modern kitchen facilities to service the additional area and deliver function capability.
Today the Group operates within the hotel sector – Ashmore Tavern on the Gold Coast and Aspley Central Tavern – and retail investment property sector – Aspley Shopping Centre and Aspley Arcade Shopping Villages on Gympie Rd Aspley, The Plough Inn at Southbank and the Court House Hotel in Murwillumbah, northern NSW.
Mr Ganim, who joined the board as a non-executive director in 1989, founded HopgoodGanim, a leading commercial law firm of over 300 personnel with offices in Brisbane, Perth and a representative office in Shanghai. Mr Ganim headed the commercial dispute resolution and litigation practice until his retirement from partnership in 2009, and continues to work with the firm as a consultant.
With over 40 years experience in the corporate and litigation areas conducting complex corporate and commercial matters involving international and national corporations, he has acted in the Supreme Court of Queensland, the Federal Court of Australia and the High Court of Australia, as well as appearing before various Tribunals and Inquiries. Mr Ganim is also a Supreme Court Approved Mediator, a Notary Public, and a Commissioner for Affadavits. Mr Ganim served for a number of years as a member of the Litigation Reform Commission, Court Administration and Resource Division, chaired by a Supreme Court judge which reviewed all facets of court and litigation practice.
In addition to his role as chairman of Eumundi Group Limited, Mr Ganim advises and sits on the boards of 7 private companies, including as a board representative executor of deceased estates involved in substantial business enterprises.
Mr De Luca joined the board as a non-executive director in 1989. He is the principal of the De Luca group of companies and has a wide range of business experience in the property and construction fields overseeing the acquisition of investment and development properties by that group.
Mr Boyte, who joined the board in 2021as independent non-executive director and chairman of the Audit and Risk committee, has an extensive background in merchant banking and finance including corporate restructures, mergers and acquisitions. He has extensive directorship and executive experience in transport, horticulture, financial services, investments, health services and property.
Mr Boyte is currently chairman of NTAW Limited, executive chairman of Eureka Group Holdings Limited, and non-executive director of Hillgrove Resources Limited. Mr Boyte was previously deputy chairman of Abano Healthcare Group Limited (NZX) and director of Unity Pacific Ltd.
Mr Cornish was appointed as company secretary in May 2024. Mr Cornish is a Chartered Accountant with significant experience as a public company CFO and Company Secretary, focused on finance, administration and governance roles.
Ms Jacobi joined the Group as Chief Financial Officer in January 2006, and was appointed Chief Executive Officer in June 2013. Ms Jacobi has over 30 years of management experience in senior accounting roles across many industries and sectors including roles in not-for-profit and government organisations, large private companies as well as ASX listed companies.