Marty Short’s Welcome Hospitality has divested the reinvented Redfern Hotel on the fringe of the Sydney CBD to a growing local group.
Previously known as the Courthouse Hotel, it holds a prime city site on the corner of George and Redfern Streets, opposite the landmark former Redfern Post Office.
Having seen several reinventions over the years, the building was split between a licensed venue trading as Mr Mary’s, mostly on the upper level, and three retail tenants.
Well-known hotelier Martin Short bought the property with partner Ben Shaw in 2016 for around $6 million, having acquired the Tudor Hall in Redfern the previous year.
The Hotel was reworked and reopened in 2017. Significant further capex has resulted in the removal of the tenants, to dedicate the entire lower level to a proper public bar and gaming room.
Earlier this year upstairs was recreated to become a bistro and function rooms.
Short says the pub has been “great to restore” but the time had come to realise some capital and move on.
Staying characteristically tight-lipped on future plans, he admits to be looking around and says “we’ll see what happens”.
An unnamed “established local private hotelier family” is looking to expand on its hotel portfolio and is understood to have paid more than $20 million for the urban premise.
Adding to a frenetic period in pub real estate, The Redfern follows the recent city-fringe sales of the Crystal Palace in April, the Agincourt in May, the 3 Weeds in July, and Kurrajong Hotel last month.
Theoff-market sale of The Redfern was managed by HTL Property’s Dan Dragicevich, Sam Handy and Andrew Jolliffe.
“We’re thrilled to have exclusively advised on such a material transaction,” Dragicevich says.
“And one that highlights the continued depth of buyer demand for top-tier Sydney hospitality assets.”
