Marty Short’s pub group has picked up a local favourite in Redfern as city fringe assets continue to emerge as the must-haves in a hot market.
Spying the area’s steady development, the operators named in recognition of patriarch Warwick Short pounced on the Tudor Hall Hotel in an off-market campaign.
The purchase, believed to be in the region of $6 million, expands the Short family’s partnership with the Anderson family, which already holds the immensely successful Glenmore Hotel in The Rocks.
It also furthers W.Short Hotel Group’s expansion into metropolitan fringe venues, following its 2013 purchase, re-brand and subsequent success with Leichhardt’s Royal Hotel.
CEO of W.Short Hotel Group, Marty Short, said in a release he believes The Tudor will “fit perfectly into the portfolio”.
“We’ve been watching the exciting development of Redfern over the last few years and when the opportunity came up to move into the area, it was too good to miss,” said Short.
“What we look for in the Group are venues that are at the heart of vibrant, local communities, which is what a good pub should always be. We think The Tudor will fit perfectly into the portfolio.”
The transaction was conducted by CBRE Hotels director Dan Dragicevich, who says the Group will likely do big things with the popular venue.
“The cosmopolitan Redfern Street is now home to various cafés and small bars and no doubt Marty Short has plans to further enhance the streetscape of the area with renovation plans for the venue already in train.
“The Sydney metro Hotel market continues to go from strength to strength as demand outstrips supply in most segments and for the majority of asset types.”
