Australian Venue Co. (AVC) has exchanged contracts to acquire The Clock Hotel in Surry Hills and The Bank Hotel in Newtown in partnership with a private freehold property investor.
The sale of the two landmark pubs, managed by Solotel, marks a significant shift in ownership after long tenures: The Clock was held for 23 years and The Bank Hotel for 14 years.
Sources suggest that AVC acquired the two pubs for circa $100m, and that The Clock Hotel component of the transaction represents the largest sale ever recorded for a food and beverage-centric pub in Australia with minimal gaming and no accommodation. The brokerage team would not be drawn on the price.
The portfolio was brought to market by John Musca, Ben McDonald and Kate MacDonald from JLL Hotels and Hospitality Group in May 2026 on behalf of private investors, Amalgamated Hotels. Also sold within that portfolio was the Sackville Hotel in Rozelle, which is set to be acquired by Merivale.
Positioned on Crown Street in Surry Hills, The Clock is a prominent corner hotel generating significant revenue across its bar, food, and bottle shop operations, with 10 gaming machines. The venue benefits from its proximity to Central Station, the Tech Central innovation district, and the Moore Park entertainment precinct, including Allianz Stadium and the SCG.
The Bank Hotel holds a prime location on King Street, directly opposite Newtown Station, capitalising on the daily movement of over 16,000 commuters. The venue produces strong and consistent revenue and operates under a 24-hour liquor licence. Its position is further enhanced by Newtown’s designation as a Special Entertainment Precinct and its proximity to the University of Sydney and the Royal Prince Alfred Hospital, which is undergoing a $940 million redevelopment.
The Bank Hotel, Newtown. Image supplied: JLL.
“The Bank and The Clock have been part of their local communities for well over a century, and we recognise the important place they hold in Newtown and Surry Hills. We look forward to working with the venue teams and building on what makes each pub so valued,” stated AVC CEO Paul Waterson.
McDonald noted that the two pubs were both in two of inner-Sydney’s most active hospitality and nightlife thoroughfares.
“Crown Street and King Street represent two fundamentally different but equally compelling hospitality environments, one defined by lifestyle dining and urban density, the other by entertainment culture and late-night trade. What unites The Clock and Bank Hotel is their ability to maintain relevance across generations of patrons, their position at the centre of high-traffic precincts, and their track record of consistent trading performance regardless of broader economic conditions.”
Speaking of AVC’s partnership with private investors, Musca noted: “The partnership between Australian Venue Co and institutional property capital represents a growing investment model in the hospitality sector, combining operational expertise with long-term real estate ownership to maximise both trading performance and asset value appreciation,” stated Musca.
AVC has spent the last six months bolstering its presence in Sydney’s CBD and surrounds. At the beginning of the year, it had acquired four major leasehold properties off Solotel: The Golden Sheaf, Double Bay; Barangaroo House; Public House Petersham; and The Erko, Erskineville. A few months later, the national group partnered with Solotel on The Courthouse Hotel in Newtown, with Solotel retaining the freehold and AVC taking on the leasehold. AVC has also transformed the old Quay restaurant and Squires Landing sites in The Rocks into a new major waterfront venue, The Oriana.