High-powered hoteliers have bought The Lion and expect to reopen soon
They’re behind some of the best pubs in the state. Now a high-profile group of investors is looking to reopen The Lion.
SA Business
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The Lion Hotel will reopen in late September after being sold to a team including the owners of 2KW and the Uraidla and Crafers hotels.
The newly-formed Duxton Pubs Group, formed by high-profile hoteliers Brett Matthews, Martin Palmer and Ed Peter, has bought the North Adelaide hotel from its previous owners Tim Gregg and Andrew Svencis.
The deal, brokered by JLL, also included an adjacent, three level office block at 183 Melbourne St.
Mr Gregg and Mr Svencis had owned and operated The Lion since 1996.
“It’s been quite a journey, with many state and a few national awards along the way, but more importantly great staff and management team, and lots of wonderfully loyal customers,” Mr Gregg said.
“We now look forward to assisting the new owners as we continue towards settlement later this year,” added Mr Svencis.
The new owners collectively own and operate multiple hotels and premium hospitality venues across Adelaide and South Australia, including the multi award-winning Stirling Hotel, Uraidla Hotel, Crafers Hotel, 2KW Bar & Restaurant, and Paloma Bar and Pantry.
The acquisition of The Lion and the establishment of Duxton Pubs Group forms part of the group’s ambitions to ramp up its investment in the local hospitality sector.
“The goal is to bring in some other investors and we’ve got line of sight on five or six assets - so bring in some other people to invest with us and create a larger group,” Mr Peter said.
“What we’ve found is if we can create a bit of scale without changing the soul of things, then we can create some critical mass and that then allows you to attract better chefs because they get better opportunities, it allows you to attract venue managers.
“We have a very clear vision to create an ecosystem in the state where we can do more and The Lion is part of that ecosystem.”
Mr Matthews said the strategy was inspired by the success of hospitality giant Merivale, which operates more than 70 venues across Sydney.
“Our benchmark now is Merivale and Justin Hemmes - if we can create that, where his venues have soul, they have interest, they have character,” he said.
“Really, The Lion is a bridgehead into that Merivale concept.”
After The Lion’s expected reopening in late September, the new owners plan to “contemporise” the venue, including the likely removal of the hotel’s 20 gaming machines.
The purchase price was not disclosed. Industry sources have been reported as saying it could fetch up to $17 million.