Solotel sells four Sydney pubs
Australian Venue Co has bought four Sydney pub leaseholds outlaying a speculated c$40 million.
Solotel Group, established in 1986 by Bruce Solomon, for the last five years led by son, Elliot, was the seller.
The portfolio includes Barangaroo House at Barangaroo, Double Bay’s Golden Sheaf, Erskineville’s The Erko and in Petersham, Public House.
The sale comes 14 months since Solotel’s lease at the Edinburgh Castle Hotel on Pitt St expired.
That venue is now owned and run by John Azar’s The Good Beer Co.
Last month meanwhile, the Solomons picked up three venues formerly held by bankrupt publican Jon Adgemis’ Public Hospitality Group including the Camelia Grove Hotel in Alexandria, Redfern’s Norfolk Hotel and Oxford House at Paddington (continues below).
In 2021 meanwhile, the family outlaid $64m for Rooty Hill’s Carousel Inn.
Its book also includes the Riverbar and Kitchen in Brisbane’s CBD.
Another asset – the Bridgeview at Willoughby – is expected to be listed for sale next month.
AVC is 45 per cent controlled by each of PAG Group and CVC Capital Partners.
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