Hugos Manly sale follows Luna Park trade as Sydney Harbour properties lift

Venues on Sydney’s harbour are trading swiftly ahead of an expected bumper summer period.

Dave Evans at Hugos at the Manly Wharf. Picture: John Appleyard

The revamp of Sydney’s much-loved Manly Wharf is taking shape, with two of the country’s top hospitality groups striking a deal that will see the Brisbane group behind Howard Smith Wharves buy Hugos Manly.

The Artemus Group has quietly picked up the restaurant in a deal that will see the Hugos team stay on, and the venue operated by Dave Evans and David Corsi.

The deal, via Andrew Jolliffe of specialist firm HTL Property, was negotiated over months, and comes as Sydney Harbour venues are in focus ahead of summer.

The city’s Luna Park was snapped up earlier this month by the pub and hotel owning Oscars Group, with that low-profile company planning to revitalise the ageing fun park with a series of new harbourside restaurants and bars.

Artemus Group, founded by Adam Flaskas and Paul Henry and with Luke Fraser as its chief executive, has courted a much higher-profile since taking possession of the waterside venue in April.

They are keen to bring their experience from Brisbane’s Howard Smith Wharves to the latest project, with plans to pour $120m into the overall site.

Artemus Group bought the bulk of the complex from tycoon Robert Magid’s TMG Developments, which sold it the wharf last year and the property is set for a major overhaul as it also bought Manly Wharf Hotel, in deals valued at $110m in total.

Artemus has committed to working with the community in Manly on the plans.

Changes have begun with Felons Brewing Co., a craft brewery that took over the Manly Wharf Bar space, and it brings its award-winning craft beers to the famed Sydney waterfront destination. Artemus also lodged $13m plans to transform the old Aldi supermarket into a microbrewery.

HTL Property managing director, Andrew Jolliffe, said the Hugos deal showed the desire of the two leading hospitality groups to contemplate new ventures together in the future.

Hugos Manly at the wharf has been operating for 16 years and more venues are now being planned.

Mr Evans said that he and Mr Corsi would continue to operate the restaurant day-to-day, with the same managers and staff staying on board. “We’re looking forward to growing the Hugos brand into new sites,” he said.

Artemus in September also unveiled plans to transform Brisbane’s riverfront, submitting a scheme for the Howard Smith Wharves precinct. A nine-storey boutique hotel complete with theatre hall and a new pool deck overhanging the Brisbane River could be built at the complex under a major proposed overhaul with an estimated value of $500m.