The popular queer-friendly Newtown Hotel in Sydney’s inner west has been put on the market by Universal Hotels, the current leaseholder and operator of the venue.
The leasehold interest is being sold through an expressions of interest campaign managed by commercial real estate and investment management company JLL Hotels & Hospitality Group, with the campaign set to close on September 10.
Whether the venue remains run as a queer venue post the leasehold sale process will be the question on many LGBTI+ community member’s lips and will depend on who secures the venue.
Situated on King Street, the Newtown Hotel is positioned in a high-traffic area known for its retail and entertainment offerings. A 7-minute walk to Newtown train station and close to the University of Sydney, the dog-friendly venue has been a fixture in the community and hosts regular drag performances.
It is owned by the Kospetas family, who also own other queer-friendly venues including the Imperial Hotel in Erskineville and Oxford Street venues Universal Sydney, The Riley, and Oxford Hotel. The family also own a range of other venues including Civic, Crown Hotel, Darling Pavilion and the Palace Hotel.
Newtown Hotel recently axed its “That’s Entertainment” talent show while its owner’s nearby Imperial Hotel brought back a drag competition it now runs on the last Thursday of each month called Ruby’s Royale Rumble. Universal Sydney runs a regular drag competition, Slay4Pay, every Wednesday night.
The Newtown Hotel has trading approval until 1am, 10 gaming machines, and an average weekly revenue of more than $120,000.
The hotel itself features a public bar on the ground floor, a beer garden, a gaming room, and a pool room. The ground floor also has a dormant kitchen that could be brought back into use, say the agents for the leasehold sale.
The first floor offers a bar, dining space, commercial kitchen, and a popular balcony overlooking King Street which was recently approved to trade for an additional 2 hours each night from 10pm to midnight. The top floor provides additional function spaces that the agents say could be developed to increase the venue’s capacity.
Universal Hotels purchased the leasehold interest from Chris Morris’ Colonial Leisure Group in mid-2021, according to industry news website Pubtic. The property itself is owned by a private Greek family that has held the asset for over 30 years, Pubtic previously reported.
JLL senior vice president Kate MacDonald noted that in the current lending environment, there is a “real focus” on high cash flow businesses with strong earnings. The Newtown Hotel, with its consistent revenue and prime location, fits this profile and is expected to attract a range of potential buyers, MacDonald said.
“Newtown Hotel represents almost everything that pub operators are looking for right now; a robust business, long tenure, and a vibrant location,” MacDonald said.
Ben Grubb is the founder and editor of Gay Sydney News, an independent publication covering LGBTQIA+ news. A journalist with more than 15 years' experience, he has reported and edited for The Sydney Morning Herald, The Age, WAToday, Brisbane Times, The Australian Financial Review, News.com.au, ZDNet, TelecomTimes and iTnews, primarily on the topic of technology. He previously hosted The Informer, a queer current affairs program on Melbourne’s JOY 94.9 radio station, and contributes to LGBTQIA+ media including Stun Magazine. Ben has also appeared as a technology commentator on Channel Ten's The Project, ABC RN’s Download This Show and commercial radio stations 2UE, 2GB and 6PR. Contact Ben: ben.grubb@gaysydneynews.com.au
