Sydney hospitality group Solotel has sold four venues to Australian Venue Co (AVC): The Golden Sheaf in Double Bay, Barangaroo House in Barangaroo, Public House Petersham in Petersham and The Erko in Erskineville.

According to The Australian, the deal is thought to be worth $40 million. It follows Solotel losing its leasehold on Opera Bar at Sydney Opera House after almost 25 years.

The sale agreement is expected to be competed by around April 2026. Solotel’s head office is currently located above The Golden Sheaf, meaning the group will need to find new premises before that date.

In a statement, Solotel said the combined the sales represented a “reset for the Solotel group into a smaller, sharper, Solomon family-led group with reinvestment planned in the remaining portfolio, as well as looking to grow in new bars and restaurants”.

Solotel’s long‑standing partnership with Matt Moran will continue with ARIA and Chiswick restaurants, Chophouse, North Bondi Fish and Riverbar and Kitchen. The collaboration also includes a new dining experience planned for Macquarie Street in Sydney, marking the next chapter in the partnership.

CEO Elliot Solomon said: “Hospitality very much remains our focus. The sale to AVC represents an opportunity to refocus the business on exceptional and unique venues, rather than scale.

“We remain deeply committed to hospitality and evolving Solotel, with our upcoming Macquarie Street restaurant and the relocation of The Albion to Smith Street, Parramatta.”

“This decision allows us to simplify the business, reduce complexity, and focus our energy on our remaining venues as well as new projects where we can be more hands-on.

“These decisions are about setting Solotel up for long-term success. We are excited about the future and the opportunities to create new, vibrant hospitality experiences.

“The venues joining Australian Venue Co are set for an exciting new chapter. With AVC’s strong track record and commitment to creating exceptional experiences, we’re confident these venues will continue to thrive for years to come.”