The iconic Evening Star Hotel in Surry Hills has been sold to Universal Hotels, marking a significant change in ownership for the historic Sydney pub directly opposite Central Station.
JLL Hotels & Hospitality Group confirmed the sale on the 7th of August 2024, though the exact date the deal was closed was not specified.
The Evening Star Hotel has long been a fixture in Surry Hills, known for its colourful trading history and popularity among media and newspaper tycoons in past years. Its prime location on Elizabeth Street, opposite Central Station, has made it a notable establishment in the area.
The Evening Star Hotel offers a range of services including food and beverage options, as well as gaming facilities with 24 electronic gaming machines. Its strategic position allows it to benefit from growth in the Southern CBD, including developments in the Central Station and Tech Central Precincts.
JLL Hotels’ Managing Director Ben McDonald and Senior Vice President Kate MacDonald handled the transaction. The hotel was sold on behalf of private operators who own several hotels in Regional NSW. It was purchased by Universal Hotels, owned by the Kospetas Family, adding to their portfolio and bringing their total to 17 venues across NSW.
The sale has generated significant interest in the industry, drawing strong attention from publicans seeking exposure in a tightly held market segment. This transaction positions JLL for a leading role in the 2025 fiscal year and is expected to be the first of many transaction announcements in the coming months.
Mr McDonald stated that the firm’s main objective is to improve their clients’ investment strategies, whether buying or selling. He noted that both parties involved in this transaction pleased with the outcome.
Published 9-Aug-2024