Newtown’s Courthouse Hotel, known locally as ‘The Courty’ has been listed for sale for the first time in 25 years.
The pub is currently leased by Sydney hospitality group Solotel, who recently offloaded their leases over four Sydney venues: The Golden Sheaf in Double Bay, Barangaroo House in Barangaroo, Public House Petersham in Petersham and The Erko in Erskineville; all of which were sold to Australian Venue Co (AVC).
Another Solotel-leased venue, The Bridgeview Hotel, has also been recently listed for sale by the building’s owners.
The Courthouse Hotel, Newtown, has been listed for sale. Picture: Supplied
While the Courthouse Hotel on 202-204 Australia St, Newtown is being offered for sale by its owners, The Daily Telegraph understands that Solotel’s lease on the venue is not due to end until September this year.
Estate agents HTL Property are overseeing the pub’s sale.
“The hotel enjoys the unparalleled reputation of being the pub the community is drawn to celebrate and commiserate many important, and other not so important, life events,”
HTL Property’s Sam Handy said.
HTL Property managing director Andrew Jolliffe said the property had “unsurprisingly” garnered high volumes of interest.
“When a hotel of this status comes to market, an active level of inquiry isn’t a surprise,” he said.
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It’s the first time in 25 years the beloved ‘Courty’ has been listed. Picture: Toby Zerna
The pub is positioned close to Sydney University, transport infrastructure and is right in the heart of Newtown’s entertainment precinct.
HTL Property’s listing describes The Courty as “one of the Inner West’s most iconic hospitality venues” and says its listing offered “a rare opportunity in one of Sydney’s most tightly held markets.”
The venue is being sold via an Expression of Interest campaign concluding on April 15.
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Solotel CEO Elliot Soloman said recent venue sales have come as part of a plan to “simplify the business”. Picture: Esteban La Tessa
Following Solotel’s four-pub deal with AVC, CEO Elliot Solomon said hospitality “very much remains our focus”.
“The sale to AVC represents an opportunity to refocus the business on exceptional and unique venues, rather than scale,” Mr Solomon said.
“This decision allows us to simplify the business, reduce complexity, and focus our energy on our remaining venues as well as new projects where we can be more hands-on.”
The transaction was estimated to be worth $50m-$60m.