The Kospetas family’s Universal Hotel Group and long-time publican Sue Cameron have swapped inner-city Sydney pubs in an unusual transaction that industry sources gave a combined value of about $20 million.

Universal has offloaded its leasehold interest in Sydney’s Newtown Hotel to Cameron, who will take over the pub operation, and purchased the freehold of the Lord Roberts Hotel in Darlinghurst from Cameron, giving the company ownership of the property as well as the business.