Gowing Bros

What Gowing Bros does

Gowing Bros Ltd (ASX: GOW) is an Australian listed family office and investment holding company founded in 1868 by John Ellis Gowing and headquartered in Coffs Harbour, New South Wales. The company is in its fifth generation of family management, led by CEO John Gowing — reportedly Australia's longest-serving CEO of a public company — alongside his three sons Ellis, James, and Byron. The investment portfolio was formally established in 1953 by Ted Gowing and has consistently delivered dividends and outperformance versus the index since inception.

The company's core business is deploying patient, inter-generational capital across a diversified portfolio spanning retail properties (Pacific Coast Shopping Centres including Coffs Central, Port Central, and Kempsey Central), residential development (Sawtell Commons — 220 lots across 38.49 hectares — and Solitary 30 mixed-use site), the global surf industry (wholly-owned Surf Hardware International, FCS fins, and MFC Hawaii acquired July 2024), fishing equipment (Alvey Reels acquired December 2022), food and agribusiness (Cobram Estate Olives, in which a $2.9M initial stake grew to $22M market value), and venture capital holdings (SYMBYX Biome, DiCE Molecules, PowerPollen, CannaPacific, Five V Capital Fund II, Best & Less Group, The Hello Cup).

Gowing Bros generates returns through capital appreciation of its diversified asset base and dividend distributions to shareholders, with historical dividend per share ranging from 6.0c to 10.0c annually (FY2020-FY2024). Net Assets were $203.6M as of July 2024, with a FY2024 Total Shareholder Return of 1.1%. The go-to-market is institutional and conservative — the company relies on ASX announcements, annual reports, shareholder communications, and its corporate website rather than active sales outreach. The company holds no proprietary technology products, generates no subscription or transactional revenue from end customers, and earns primarily through investment portfolio returns, rental income from shopping centres, and equity gains. Net Assets stood at $203.6M as of 31 July 2024, with FY2024 net profit after tax of approximately -$0.04M.

Name

Gowing Bros

Legal name

Gowing Bros Ltd

Website

https://gowings.com

Company type

Public

Founded year

1868

Operating status

Operating

Headcount range

11–50 employees

Short description

Gowing Bros Ltd (ASX: GOW) is a five-generation Australian listed family office founded in 1868, headquartered in Coffs Harbour, NSW, deploying inter-generational capital across retail properties, residential development, surf industry, fishing equipment, food/agribusiness, and venture capital for public shareholders.

Ownership category

akta.pro rank

Product category

Investment Management

NAICS

Portfolio Management and Investment Advice (52394), Funds, Trusts, and Other Financial Vehicles (525), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Multi-Sector / Generalist Growth Equity (FSANACAO)

akta.pro secondary industries

Real Assets — Fund-of-Funds & Secondaries (FSAAAKAK), Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD), Co-Investment Aggregators & Multi-Manager Co-Invest Vehicles (FSAHAKAJ)

Keywords

• Family office investment
• Diversified investment holding
• Retail property investment
• Residential land development
• Venture capital portfolio

Headquarters

HQ city

Pyrmont

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Investment Returns and Capital Appreciation: Gowing Bros generates returns through capital appreciation of its investment portfolio, which includes retail properties, shopping centres, commercial real estate, residential development, global surf company, water sports innovation, fishing equipment, iconic Australian brands, and food security operations. The company has consistently delivered returns that have outperformed the index since the investment portfolio's inception in 1953.
2. Dividend Distribution: The company distributes regular dividends to shareholders. Historical dividend per share has ranged from 6.0c to 10.0c annually over recent years (FY2020-FY2024), demonstrating consistent income generation for shareholders alongside capital appreciation.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Gowing Bros is a publicly listed Australian family office (ASX: GOW) that manages a diversified investment portfolio spanning retail shopping centres (Pacific Coast Shopping Centres), residential land development (Sawtell Commons, Solitary 30), wholly-owned consumer product subsidiaries (Surf Hardware International, FCS surf fins, Alvey Reels fishing equipment), strategic equity investments (Cobram Estate Olives, Best & Less Group, Five V Capital Fund II), and venture capital positions (SYMBYX Biome, CannaPacific, DiCE Molecules, PowerPollen, The Hello Cup). The company invests permanent capital alongside shareholders with an inter-generational horizon, targeting long-term capital appreciation and regular dividend distributions rather than short-term trading returns.

Product overview

Gowing Bros is a listed family office and investment holding company (ASX: GOW) with over 156 years of history, offering a diversified investment portfolio spanning retail properties (Pacific Coast Shopping Centres), residential development (Sawtell Commons, Solitary 30), global surf companies (Surf Hardware, FCS), fishing equipment (Alvey Reels), food and agribusiness (Cobram Estate Olives), and various startup investments (SYMBYX Biome, CannaPacific, DiCE Molecules, PowerPollen). The company operates as a platform-plus-subsidiaries architecture, with the core family office function managing strategic investments alongside operational subsidiaries in surf hardware and retail.

Differentiator

Problem solved

Functional benefit

Brands

• Pacific Coast Shopping Centres: Shopping centre portfolio including Coffs Central, Port Central, and Kempsey Central in NSW Mid North Coast region
• 1868 Capital
• Coastbeat
• Surf Hardware
• Gowings Whale Trust
• Sawtell Commons
• FCS
• Solitary 30

Products and services

• Pacific Coast Shopping Centres Retail property portfolio comprising Coffs Central, Port Central and Kempsey Central shopping centres in regional New South Wales, providing leased retail space to commercial tenants. (Moonee Market was divested in October 2019.)
• Sawtell Commons Residential Development A 38.49-hectare greenfield residential land development on the NSW mid-north coast bordering Bongil Bongil National Park with Bonville Creek access, delivering 220 residential lots near Coffs Harbour (Stage 2: 20 lots; Stage 3: 56 lots). Civil works are funded via a $10.4M CBA debt facility approved September 2025.
• Solitary 30 Mixed-Use Development Mixed-use development site at 357 Harbour Drive, Coffs Harbour, located in the Jetty precinct near the foreshore. Historic timber elements from the site were repurposed at the new Gowings Head Office.
• Surf Hardware International (SHI) Wholly-owned subsidiary acquired in June 2017; a global surf company headquartered in Coffs Harbour (HQ relocated from Sydney), supplying surfboard fins and water sports hardware across 35+ countries.
• FCS (Foil Contour Systems) Wholly-owned core operating subsidiary producing surfboard fins and water sports innovation products; brand partner of the Gowings Whale Trust for humpback whale conservation initiatives.
• Alvey Reels Wholly-owned fishing equipment brand acquired in December 2022 to secure Australian local ownership of the historic reel manufacturer.
• Shark-Deterrent Smart Surfboard Fins (R&D Project) Research-stage smart surfboard fins with embedded sensors, electromagnetic systems and illumination features designed to target sharks' electro-sensory systems and prompt avoidance. Developed in partnership with UNSW, University of Wollongong Surf Flex Lab, and the Australian Composites Manufacturing Cooperative Research Centre under a $2.5 million project.
• Cobram Estate Olives (Investment) Strategic equity investment in Cobram Estate Olives (formerly Boundary Bend), Australia's leading producer of premium extra virgin olive oil with 2.4 million producing trees on 6,575 hectares in the Murray Valley region, with groves in Victoria and California.
• Best & Less Group (Investment) Strategic equity investment in Best & Less Group, a retailer specialising in baby and kids' apparel operating 246 physical stores and online channels under the Best & Less (Australia) and Postie (New Zealand) brands, generating 86% of revenue from proprietary in-house designed brands.

Quantifiable outcome

• Total Shareholder Return of 1.1% in FY2024 despite challenging market conditions
• +2 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• University of New South Wales (UNSW)coreStrategic or Co-development Partner · 7 June 2026UNSW Sydney is collaborating with Gowing Bros on a shark-deterrent surfboard fin research project. The project involves developing smart surfboard fins with embedded shark-deterrent technologies including sensors, electromagnetic systems, and illumination features. Field testing is planned to validate the technology in real-world ocean conditions.
• University of Wollongong Surf Flex LabcoreStrategic or Co-development Partner · 21 April 2026The University of Wollongong's Surf Flex Lab is leading a $2.5 million research project in partnership with Gowing Bros and UNSW to develop shark-deterrent surfboard fins. The smart fins will create an electric field targeting sharks' electro-sensory systems to cause sensory overload and prompt sharks to turn away.
• Australian Composites Manufacturing Cooperative Research CentreminorStrategic or Co-development Partner · 21 April 2026The ACM CRC is co-funding the $2.5 million shark-deterrent surfboard fin research project alongside Gowing Bros, UNSW, and University of Wollongong. The project uses 3D-printed composite materials for the smart surfboard fins.
• Cobram Estate Olives (Boundary Bend)coreStrategic or Co-development PartnerGowings invested $2.9M in Boundary Bend/Cobram Estate Olives, which has grown to $22M market value. Boundary Bend is Australia's leading producer of premium extra virgin olive oil with 2.4 million producing trees on 6,575 hectares.
• Best & Less GroupminorStrategic or Co-development PartnerGowings has invested in Best & Less Group, a retailer specialising in baby and kids' apparel with 246 physical stores and online operations across Australia and New Zealand under Best & Less and Postie brands.
• SYMBYX BiomeminorStrategic or Co-development PartnerSYMBYX Pty Ltd is an Australian medical technology company developing Photobiomodulation (PBM) therapies for chronic diseases and inflammatory conditions, with focus on Parkinson's and Fibromyalgia treatments.
• Country Universities Centre Macleay ValleyminorStrategic or Co-development PartnerGowings supported the establishment of the Country Universities Centre at Kempsey Central Shopping Centre, backed by Federal and NSW Government, CUC Central, Kempsey Shire Council, and Gowings Bros Ltd. Opened in April 2021.
• Gowings Whale TrustminorStrategic or Co-development PartnerThe Gowings Whale Trust is a whale preservation charity established to increase knowledge about whales and support marine conservation initiatives. FCS (a Gowing Bros company) is a proud supporter of the trust.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Washington H. Soul Pattinson: ASX-listed long-term investment house with a diversified portfolio spanning equities, property, and private equity. Closely comparable to Gowing Bros as a multi-generational Australian listed investment company with a permanent capital structure.
• Brickworks Limited: ASX-listed diversified industrial and property group with significant property trusts and a long family-controlled heritage. Comparable through its multi-generational family stewardship and combination of operating businesses and property assets.
• Caledonia Investments: UK-listed investment trust with a multi-generational, family-influenced approach and a diversified portfolio of public and private investments. Structurally analogous to Gowings as a permanent-capital listed family investment vehicle.
• Investor AB: Swedish listed investment company controlled by the Wallenberg family, holding diversified long-term stakes across industries. Direct structural parallel to Gowings as a multi-generational listed investment holding company.
• EXOR N.V. European-listed holding company controlled by the Agnelli family, investing across sectors with permanent capital. Comparable for the listed-family-office model and inter-generational horizon.

Broad incumbents

• Perpetual Limited: ASX-listed Australian wealth manager providing portfolio management, advice, and trustee services. Comparable as a major Australian investment management operator, though much larger and more institutional in client base.
• Magellan Financial Group: ASX-listed Australian asset manager focused on global equities. Overlaps with Gowings' investment management exposure but operates at much larger AUM scale and is purely a fund manager rather than direct investor.
• Berkshire Hathaway: US-listed conglomerate with diversified operating businesses and a long-term value investment philosophy. Comparable thematically through its permanent capital, value-driven approach, but operates at vastly larger scale.

Regional players

• Lendlease Group: ASX-listed Australian property and real estate developer with retail and mixed-use portfolios. Overlaps with Gowings' Pacific Coast Shopping Centres and Sawtell Commons exposure, but operates nationally and at much larger scale.
• Vicinity Centres: ASX-listed owner and operator of Australian shopping centres. Comparable in the retail property ownership and management segment, though Vicinity operates major metropolitan malls rather than Gowings' regional centres.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gowing Bros