New King in South Hurstville

Leading national agency HTL Property is pleased to announce the off-market sale of the Sydney’s Kings Head Tavern, on behalf of well-known Victorian-based group, Francis Venues; to expanding local operators, Parras Hospitality.

Strategically positioned at the busy intersection of King Georges and Connells Point Roads, and adjacent the South Hurstville Shopping Centre; the prominent two-level Hotel enjoys the benefit of 2am trade and 27 gaming machines.

Francis Venues took the keys from Redcape Hospitality in 2024 and immediately embarked upon a capex program – reactivating the kitchen, renovating the facade of the building as well as refurbishing the gaming room with a completely new fit-out.

“We have thoroughly enjoyed our first foray into the Sydney hotel market, there remain quite a few differences operationally and jurisdictionally between NSW and Vic, but what is consistent is that if you provide the right customer experience, positive results will follow” advised Francis Venues, Managing Director, Tom Francis.

The sale price represents a strong return on investment in a relatively short space of time for Francis Venues.

“It was a testament to the attractiveness of NSW Hotels as a collective, when Francis Venues made the investment trip north; and the fact it has been a success underscores the value accretion and liquidity proposition that remains available in such a dynamic marketplace” advised HTL National Director, Dan Dragicevich.

The purchase for Parras Hospitality, led by Hotelier Colin Peter Parras, takes their expanding hotel portfolio to four – and which also includes the hugely successful El Toro Hotel in Warwick Farm, large format Ambarvale Hotel; and their most recent project, the outstanding Shaws Bay Hotel in Ballina (NSW).

“The last few years have been a labour of love getting the Shawsy open, where we have just enjoyed our first full summer of trade up there, and received an astounding response” commented Colin Parras.

“We had been looking to get back to our roots in Sydney, and the Kings Head Tavern fits perfectly for us. Francis Venues have done an amazing job, and we hope to continue to foster the growth tangent that it is already on.”

The successful sale of Sydney’s Kings Head Tavern follows a notable uptick in the cadence of material hospitality transactions in capital cities across Australia’s East Coast.

“Sydney hotel sales such as this reflect the hardwired value proposition presented by the asset class, and its attraction to an audience of well credentialed buyers” advised HTL Property Managing Director, Andrew Jolliffe.

“Unsatisfied capital earmarked for Sydney pub acquisitions continues to outweigh supply, with geopolitical events and equity market dynamics corralling investors more than suggestively towards the safe harbour of property” Jolliffe concluded.

End.