After suddenly closing “indefinitely” last month citing storm damage, facing an uncertain future, it’s been revealed the Lady Hampshire will return as a pub.
Previously known as the Old Hampshire Hotel, the old-school watering hole was established on bustling Parramatta Road in Camperdown in 1911.
In 2016 Paddy Coughlan’s Bourke St took on the operation, reopening it as The Lady Hampshire, capitalising on its rare 24-hour licence and incorporating a gaming room with nine EGMs.
Two years later the group sold its lease of The Lady to a partnership of industry newcomers.
Less than 18 months after the new owners took possession the pub closed due to the COVID pandemic, and did not reopen.
Early 2022 came the news that Jon Adgemis’ Public Hospitality Group (PHG) had purchased the restapled freehold going concern for around $11 million. PHG relaunched the venue with a focus on live music in March 2023.
During 2025 the PHG concept began to unravel, having suffered spiralling post-pandemic interest rates and supply chain disruptions and failing to open several of its newly acquired pubs undergoing renovations. Adgemis was ruled bankrupt and lenders swooped on the assets.
In keeping with reports of dubious finance methods employed by PHG, the Lady had been purchased used different lenders for the freehold versus the hotel and EGM licences.
Late 2024 receivers and managers Cathro & Partners took control of the liquor and gaming licences, which reportedly have still not been sold.
However, the Lady continued to trade until early October under what is understood to be an Adgemis-related entity, AC Invest Hospitality P/L (LIQH400102895).
Following intense weather, on (Friday) 9 October the venue posted a notice explaining it would be closed all weekend, as storm damage was assessed and repair options assessed. A chorus of live music devotee publications lamented gigs such as Sydney band Manhole and DJ Meem being postponed indefinitely or relocated to other venues.
The following weeks have brought considerable speculation on the future of the popular student pub.
Complicating the story, in September Colliers presented the freehold and operating business to market on behalf of receivers and managers FTI Consulting, advertised as MU1 Mixed Use zoning also suited to residential, co-living or retail extensions.
The title sold to co-living developer Castle Student Accommodation for $9.6 million – without the licences, but with plans for budget hotel rooms.
Settlement on the transaction took place around the same time the pub ceased trading and the closure is understood to be a combination of the damage and Castle taking the keys.
However, Castle’s pathway to development approval through council is estimated at up to two years.
The company is looking to fill the gap with the right operator in the short-term, which may itself become indefinite, with consideration for a pub to be permanently incorporated into the co-living design.
Colliers’ James Cowan, who sold the freehold, is managing the lease contract for Castle, and says they have begun talks with a “very prominent” Sydney group but are open to offers.
“Having frequented The Lady Hampshire many times myself, I was particularly keen to see the pub remain part of the site’s future,” furthers Cowan.
“Fortunately, we have secured a sophisticated developer who sees the value in retaining the hospitality element while unlocking the broader landholding through a mix of uses, potentially including residential.”
