Marty Short and co have sold their locals-driven The Tudor Hotel of Redfern to the Kospetas family’s Universal Hotels, in a new high water mark for the city-fringe precinct.
The Short and Anderson families invested in the multi-level Tudor in early 2015, proclaiming it an opportunity “too good to miss” after watching development of the area over the previous years.
Shorty’s W. Short Hospitality Group (WSGH) has operated it for the past seven years, seizing the attentions of Redfern residents through old-school engagement, with the likes of the Cider Festival in 2017 and October Festival in 2018.
The stalwart WSHG has now passed the baton to the Kospetas’ Universal, although the partnership retains a presence in the community with its The Redfern and upstairs Misfits, purchased in 2016.
The Group says Redfern is a dynamic suburb and genuine community precinct that continues to change, and suggesting there is “so much that can still be achieved” at The Tudor, usher in a new family-owned operation.
“We’ve had such a great time running and evolving The Tudor over the past several years,” says Marty.
“It is a true local gem, full of character and charm. Whilst it was a difficult decision to make, the sale was the right next step for our businesses.
“We sincerely thank all of the team members we’ve had the pleasure of working with at The Tudor and all the local faces we’ve come to know and love.”
Sources suggest the pub, found just blocks south of Central Station, has sold for around $17 million, making it a record price for the suburb.
“The Tudor is a prime example of a true community pub,” echoes Harris Kospetas, for the family.
“W Short Hospitality has done an amazing job and we are looking forward to building on its already solid foundations.”
Punctuating a steady transfer of Sydney CBD-fringe watering holes, The Tudor joins other recent Redfern sales in the Woolpack Hotel to the Laundy family, and Grosvenor Hotel to Ashton Waugh’s Watering Hole Hotels group.
“The sales activity in Redfern in recent times has been remarkable, underscoring the hospitality renaissance of the precinct,” notes HTL Property’s Dan Dragicevich, who managed the transaction with colleague Andrew Jolliffe.
“Marty and the team have done a fantastic job with The Tudor during their tenure. It’s a true local favourite, presenting investment fundamentals that future-proof its continued success.”
