Bat & Ball Hotel Sold by HTL Property

The Bat and Ball Hotel in Surry Hills has been sold by HTL Property in another off-market inner city hotel deal for the leading brokerage firm.

The famous hotel is perched on the corner of busy Cleveland and South Dowling Streets, and is a venue synonymous with sporting events given its proximity to both the Sydney Football Stadium and Sydney Cricket Ground.

The intricate deal was negotiated by HTL Property’s Blake Edwards and Sam Handy who brought landlord, tenant and purchaser together in a tripartite agreement in order to deliver all parties a mutually beneficial outcome.

“Having sold the hotel to the current Vendor, we were delighted to again enjoy engagement to find an exit solution honouring the objectives of all deal participants” advised HTL Property Director, Blake Edwards.

The hotel benefits from a 2am liquor licence with 10 x gaming machines attached. It’s situated on a 504 sqm landholding and features 15 x accommodations rooms.

The purchasers are well known and highly regarded hoteliers Jim, Harris and Steven Kospetas from the Universal Hotel Group. The group owns and operates a stable of popular Sydney CBD hotels including the Civic Hotel, Universal, V Bar and newly opened The Mill in Bondi Junction.

The father and son duo recently acquired the freehold of the Tempe Hotel ($10M) and leasehold of the Newtown Hotel ($5M). Prior to which, the Kospetas family also sold Kinselas Hotel ($45M) to Dan Brady’s MA Hotel Management.

“As a family, we’re always active in the marketplace; and the opportunity to add this landmark property to our portfolio was something we mobilized quickly to achieve” commented Purchaser, Harris Kospetas.

This Bat and Ball transaction follows HTL Property’s other recent inner city hotel sales including the Dry Dock Hotel (Balmain), Grosvenor Hotel (Waterloo), Woolpack Hotel (Redfern), Hotel Hollywood (Surry Hills) & O’Malleys Hotel (Kings Cross).

“Sydney’s inner-city and fringe CBD hotel market presents several strategic investment opportunities, all underpinned by valuable and malleable commercial land holdings adorned by historically robust hospitality business revenues” added HTL Property Director, Sam Handy.

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