Piper Alderman advises Samdoo Corporation on acquisition of Brisbane’s iconic Madison Tower Mill Hotel

Piper Alderman is pleased to have advised Samdoo Corporation on its acquisition of the historic Madison Tower Mill Hotel in Brisbane for $28.6 million, a landmark transaction in Queensland’s hospitality and accommodation sector.

Samdoo Corporation is a hospitality group owned by the Kim family. Originally established in South Korea, the group has built a strong presence in Brisbane’s hotel market and currently owns and operates the Hotel Diana chain with hotels at Woolloongabba and South Brisbane. The Tower Mill will be rebranded as a Hotel Diana, and the acquisition further strengthens the Hotel Diana brand in one of Australia’s fastest-growing tourism and investment markets.

The Madison Tower Mill Hotel is one of Brisbane’s most distinctive accommodation assets. Built in 1966, the nine-storey circular hotel sits opposite the Old Windmill, Brisbane’s oldest surviving building, and occupies a prominent position on the edge of the CBD.

The acquisition highlights the continued strength of investor demand for integrated hospitality assets in Brisbane, particularly as the city prepares to host the 2032 Olympic Games. The property’s combination of accommodation income and value-add redevelopment opportunities attracted significant market interest.

Piper Alderman advised Samdoo Corporation on all legal aspects of the acquisition, including transaction structuring, due diligence, negotiation of transaction documents and completion of the purchase. The Tower Mill Hotel is a strata-titled hotel comprising more than 100 separate titles, with gaming machines, a restaurant and function areas in separate ownership, which made the transaction documentation and settlement process particularly challenging.

Real estate partner Warren Denny led the engagement. Warren had previously dealt with the property 30 years ago, and his knowledge of the property structure proved invaluable in the contract negotiation process. Warren was supported on the deal by our newly appointed real estate partner Lauren Abbott and associates Brieanna Johannesen and Emily Hamilton. Importantly, this transaction builds on Piper Alderman’s extensive experience advising investors, owners and operators across Australia’s hospitality, accommodation and tourism sectors.

Warren Denny commented:

“The acquisition of the Madison Tower Mill Hotel represents a significant investment in one of Brisbane’s most recognisable hospitality assets. The property’s unique history, strategic location and future growth potential make it a very strategic acquisition, and we were delighted to support Samdoo Corporation in expanding the Diana Hotel chain and completing this transaction.”

Following completion of the deal, Matthew Kim, Director in Charge of the Hotel Diana Group, had the following to say about working with Piper Alderman:

“The Piper Alderman team provided commercially focused advice throughout every stage of the transaction. Their responsiveness, attention to detail, familiarity with the asset and understanding of the transaction structure were invaluable in helping us successfully complete this acquisition.”

This matter further demonstrates Piper Alderman’s capability in acting on complex hospitality, accommodation and property transactions, particularly those involving strategically located tourism and accommodation assets across Australia.

Related media:
Historic circular Madison Tower Mill Hotel sells for $28.6 million – The Courier Mail, 13 July 2026