Universal Hotels acquires nine-storey inner-city accommodation asset following highly competitive Colliers campaign.
Colliers has sold Claridge House, a nine-storey inner-city accommodation asset at 28-30A Flinders Street, Darlinghurst for $19 million highlighting continued investor demand for well-located hospitality and adaptive-reuse opportunities in gateway precincts.
The property was sold on behalf of Jonathan Henry, Kathy Sozou & Damien Pasfield of McGrathNicol in their capacity as Joint & Several Receivers & Managers of Jon Adgemis’ ill fated Public Hospitality Group. The property was sold to Universal Hotels following an on-market Expressions of Interest campaign that attracted strong interest from private investors, hospitality operators and institutional capital.
“The level of enquiry reflected sustained appetite for inner-city accommodation assets, particularly those offering scale, character and flexibility in tightly held precincts,” said Matthew Meynell, Managing Director, Office Capital Markets & Investment Services | Australia.
Claridge House occupies a prominent position near Taylor Square within the Oxford Street precinct and comprises 2,169 sqm of building area across nine levels formerly utilised as 63 boarding rooms. The building was offered in coldshell condition, allowing for repositioning across boutique hotel, coliving or alternative accommodation uses (STCA). The ground-floor activation space offers flexibility for retail, food & beverage, cultural uses or communal areas such as coworking, all encased within a striking Art Deco flatiron design.
“This was a complex asset that required a capable buyer with both operational expertise and balance sheet strength. The result demonstrates that well-located hospitality opportunities continue to transact, even in a more selective market,” added James Cowan, Head of New South Wales | Investment Services.
“Sydney’s accommodation sector continues to rebound strongly supported by tourism recovery, major events and infrastructure investment. Assets such as Claridge House with scale and zoning flexibility are increasingly sought after by sophisticated operators,” added Karen Wales, Head of Hotels, Australia | Transaction Services.
“Claridge House presented as an excellent opportunity for our continued growth and diversification. It’s an asset with enormous potential located within a precinct that we know very well – it’s a really good fit for us,” added Harris Kospetas, Universal Hotels CEO.
According to Colliers’ Q4 2025 Snapshot, Sydney’s prime innercity markets continue to tighten amid a broader supply shortage and improving investor confidence reinforcing the strong appetite for welllocated accommodation and hospitality assets such as Claridge House. The campaign generated more than 250 enquiries with 62 qualified groups accessing the data room and 17 offers submitted across two EOI rounds.
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