For the first time in 42 years, Newtown nightlife staple Kuleto’s has been sold.

Long-time owner Donna Asensio plans to retire, but the sale of the beloved Newtown pub remains bittersweet.

“I will leave Kuleto’s and the Newtown community with a very heavy heart, as it has been my home for the better part of 42 years,” stated Asensio.

“Nonetheless, I’m elated with the outcome that HTL Property has delivered on Kuletos and look forward to seeing what the incoming operators will do with some fresh ideas and direction.”

HTL Property’s Sam Handy and Blake Edwards negotiated the deal on behalf of Asensio, selling the pub to a new consortium with plans of activating an edgier food and beverage offering that will better resonate with the Inner West community and demographic.

“Kuleto’s is an important part of the history and fabric of the Newtown community, and the locals should rest assured that the incoming operator will be a more than worthy custodian of the business,” suggested Handy, who would not be drawn on their identity.

“We’re delighted to have curated this outcome for our client and have a strong sense that the inner-city market will enjoy sustained investor interest over the course of the next 12-18 months.”

The three-storey building is prominently positioned at the northern end of Newtown, situated just metres from both the Marlborough and Newtown Hotels.

Currently positioned in the market as a cocktail bar, both its size and licensing allows for a larger F&B offer, with the building having plenty of potential for refurbishment and development of other revenue streams.

Kuleto’s has hotel liquor license with rare 3am trading hour approval (Monday to Saturday) on both the ground and first floor.  The property is also situated within a green zone SA2.

The sale price for Kuleto’s has not been disclosed.

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