The business interests of the very profitable Hotel have been sold by DHI Hotels to the highly regarded Universal Hotels; owned by the experienced Kospetas family.
Previously owned by Gallagher Hotel Group, Universal Hotels have added The Enfield Hotel to their hospitality stable, shortly following the active group’s acquisition of Moko in Eastwood.
“The commonality of leading hotel groups targeting leasehold interests in order to complement existing freehold assets within respective portfolios is materially increasing,” advised HTL Property national pubs director, Dan Dragicevich.
“The higher returns and lower pricing entry point are magnetic features of a strategy we have seen leading organisations such as Redcape, AVC and Endeavour employ more prominently; and we are similarly now seeing private family groups prosecuting these investment strategies as well,” Mr Dragicevich added.
The sale of The Enfield Hotel comes at a time when the Sydney pub market is enjoying considerable transaction volumes; and HTL Property holds the considered view that the ten weeks of runway remaining until the end of the typical timeframe for corporate activity, will continue to record robust transaction reporting.
“We feel very fortunate to have represented such a large number of Sydney pub sales this Calendar Year, and as such feel confident the back end of the year will continue in the same fashion as it has year to date; and which will consequently carry the positive momentum and investor willingness to treat with the asset class well into the new year,” concluded HTL Property director, Sam Handy.
