Two popular Darlinghurst watering holes in Sydney's LGBTQIA+ district have been bought up in a 67 million dollar deal, according to the Sydney Morning Herald. Kinselas and the nearby Courthouse Hotel have both been purchased by Moelis Australia Hotel Management, which owns 32 pubs across New South Wales and Brisbane, recently acquiring the Beach Hotel in Byron Bay for a record $104 million.
The Courthouse was snapped up for $22 million in November from the Universal Hotel Group, while the multi-level Kinselas sold for $45 million on Wednesday, December 9. The new owners plan to merge the two Taylor Square venues together, creating a large ‘super pub’ complex with accommodation and rooftop harbour views.
Moelis Australia Hotel Management’s CEO Dan Brady said that the hotels purchased are a great asset, as the lifting of lockout laws along with the easing of public health restrictions and new changes to legislation allowing NSW venues to operate later paving the way for a nightlife renaissance in Sydney.
"Located opposite the fine arts school and previous historic Courthouse, the consolidation of the properties into one large site presents unique development potential and the ability to create a hospitality precinct that aligns with the City of Sydney’s vision of revitalising Sydney’s nightlife and growing creative industries," said Mr Brady.
The announcement of the Taylor Square development, which is located in the traditional heart of Sydney's gay village, follows the recent news that the Green Park Hotel, another much-loved LGBTQIA+ venue in Darlinghurst, has been bought by neighbouring St Vincent's Hospital.