One of the iconic pubs on Camden's Argyle Street has just been sold.
The Camden Hotel was recently sold for $12 million in an off-market sale facilitated by HTL Property.
The venue was purchased by hotelier and long-time Marlow Hotel Group operations manager Paul Camkin and Estelle Kremer, owner of the Oaks Hotel at Albion Rail Park.
Garry and Jim McGrath sold Camden Hotel after almost 16 years. They also run a stable of venues in North Sydney and the CBD under their Sonenco Hotels banner.
"We've enjoyed our long association with the Camden area and have witnessed its emergence as a powerful growth hub," Garry McGrath said.
"An unsolicited offer from the HTL agency provided us with the impetus to conduct an internal strategic review of operations, and following which it was determined that it made good business sense for us to exit from the hotel at this point in time."
The new owners have picked up not just the site, but the 2am liquor licence and 14 gaming machine entitlements that go along with the business.
The Camden Hotel is 1352sqm and fronts both Argyle Street and the Larkin Place car park operated by Camden Council.
HTL Property's Dan Dragicevich and Sam Handy handled the sale, the firm's sixth hotel transaction in as many weeks.
"The positive cadence generated by the firm's multiple sales over the past two weeks speaks to the pulse of the asset class, and our deep affiliation with it," Mr Dragicevich said.