Momentum continues to build in Sydney’s pub market, with Universal Hotels adding the Enfield Hotel to its growing portfolio – marking the group’s fifth acquisition this year.
Located in Sydney’s Inner West, the strong-performing Enfield Hotel features a public bar, sports bar and bistro. The transaction was handled by HTL Property on behalf of DHI Hotels, underscoring Universal’s sustained appetite for well-performing suburban venues, following the recent acquisition of the Moko Hotel in Eastwood.
HTL Property’s national pubs director, Dan Dragicevich, says: “The commonality of leading hotel groups targeting leasehold interests in order to complement existing freehold assets within respective portfolios is materially increasing.
“The higher returns and lower pricing entry point are magnetic features of a strategy we have seen leading organisations such as Redcape, AVC and Endeavour employ more prominently; and we are similarly now seeing private family groups prosecuting these investment strategies as well.”
Initially, Universal Hotels will give the Enfield Hotel a cosmetic refurbishment and launch a new food and beverage concept which will act as a pop-up, says CEO Harris Kospetas.
“Once we gain a greater understanding of the community and receive some feedback we will work towards more substantial renovation and reposition,” he stated.
The Kospetas family now oversee a growing stable of venues across the city, including the Lord Roberts Hotel in Surry Hills which was purchased earlier this year.
Explaining what made the Enfield Hotel an attractive asset, Kospetas told Australian Hotelier that the group is interested in expanding its NSW presence and diversifying its portfolio.
“Over the recent years we have really enjoyed launching many drink and dine concepts such as Satang Thai at V Bar, Lucky Cat at the Riley Hotel, Ni Hao Bar at the Civic Hotel and Pizza Bros at the Imperial Hotel, as well as many entertainment offerings.
“We are interested in a further geographical spread and growing our presence into suburban growth areas across Sydney. We have resources, partnerships and brands that we believe would be successful at the Enfield Hotel while not affecting our current business operations closer to the CBD and Inner West,” Kospetas explains.
Adding to a busy month of Sydney pub deals, Universal’s recent buying spree reflects the group’s confidence in the local pub sector and an acquisition strategy that targets established metropolitan hotels.
Despite the challenges posed locally, Kospetas says the future of Sydney’s pub market is bright.
“Recent years in the Sydney CBD, city fringe and Inner West have been challenging with the cost of living, rising inflation and constant roadworks and development works, as well as many people working from home. This has definitely made the precincts we do business in challenging.
“Regarding Sydney’s pub market we feel confident that communities need a place to socialise and enjoy a great value-for-money offering. The multiple revenue streams of running a pub is what attracts us to what we do and we are able to leverage from certain streams to help give better value and cross patronise in the venue. We always take a family and hands-on approach to running a pub and focus on doing the simple things well.”
Moving forward, the group’s acquisition strategy will focus on assets that have long-term synergy and an opportunity to add value.
“We have a long standing passion for entertainment combined with bar and dining experiences that stems from our family’s long history in the hospitality industry,” Kospetas concluded.
Universal overhauls the Riverview Hotel
As Universal Hotels grows its Sydney pub network, the group has also reopened the Riverview Hotel in Tempe, which it acquired in October 2024, after a considerable refurbishment.
Universal Hotels is the sole owner of the two pubs in Tempe – the other being the Tempe Hotel, a traditional family-friendly hotel which is driven by its sports and entertainment offering. Kospetas says the layout of the Riverview Hotel provided an opportunity to focus on a more food-driven concept.
“This is why we feel confident to launch our Greek-inspired food concept. The large dining area and car park give us an opportunity to attract destination customers and who are looking to enjoy a great family-style food experience. The layout of the space also allows us to cater to larger bookings and functions.
“We will be announcing a partnership with well a known chef and restaurant. We formerly operated the 1821 restaurant previously in Martin Place and have plans for a casual Greek tavern concept with a focus on skewered meats and home-style Greek classics.”
Kospetas says local residents have already responded positively to the overhaul of the Riverview Hotel, which has transformed the former gentlemen’s club into a food-driven family-friendly pub with enhanced sports and entertainment offerings.
Take a look at the refurbishment below:
