New plans on menu for Gambaro family’s holdings

THE first family of Brisbane’s restaurant scene is selling their hotel including their iconic seafood restaurant to focus on the rollout of their expanding hospitality empire.

The Gambaro family has put its boutique five-star hotel, seafood restaurant and conference facilities at 33 Caxton St on the market.

Donny Gambaro said they were selling the award-winning hotel and restaurant — both which carry the family name — to focus on their other business.

“In the last couple of years our restaurant business has expanded and we’re looking at further expansion,” he said. “In that time we’ve opened another Black Hide Steakhouse restaurant, Persone, our new Italian restaurant in the Brisbane Quarter and there are a couple more coming along.

“We just thought it’s time for us to concentrate on where we are moving forward. I don’t think we will be building another hotel any time soon. The restaurants are doing a great job.”

CBRE Hotels’ Wayne Bunz and Hayley Manvell, who are marketing the property and operation, declined to comment on a likely sale figure but sources say it will sell for between $30 million and $35 million.

The Gambaro name has been synonymous with the food and beverage trade in Brisbane since the 1950s when they opened a fish and chip shop on Caxton St.

The Gambaro Seafood Restaurant on the ground floor of the hotel has been on the site since 1972. However, they still retain a presence in Caxton St in Petrie Tce with their Black Hide Steakhouse across the road.

The Gambaro Hotel was built in 2014 and was the family’s first foray into accommodation.

Designed by Hirsch Bedner, it features 68 boutique guest rooms and suites, 24-hour reception, guest parking, and an outdoor sunset terrace overlooking Suncorp Stadium and the precinct. It is currently operated by TFE Hotels under the TFE Hotels Collection banner.