Hugo’s Manly’s new owners to work closely with management to develop new ventures
New owners have taken over popular waterfront restaurant, Hugo’s on Sydney’s Manly Wharf.
The $20 million transaction undertaken by hospitality investor Artemus Group includes retaining the current management team. Both management and the new owners hope to take the well-known hospitality brand into new ventures.
Artemus controls most of Manly Wharf’s hospitality as well as Brisbane’s Howard Smith Wharves.
Hugo’s Group was founded by David Corsi, David Evans, and Daniel Vaughan. It rose to prominence in the early 2000s with iconic venues like Hugo’s Bondi, Hugo’s Lounge, and Hugo’s Bar Pizza in Kings Cross.
However, in recent years, the group has scaled back its operations. The recent sale of Hugo’s Manly, which fetched around $20 million, leaves Brighton’s Pantry as its sole remaining venue.
While Vaughan oversees Brighton’s Pantry, Evans and Corsi continue to manage the group’s Sydney-based businesses.
“David Corsi and myself will continue to operate the restaurant day to day with all the same management and staff staying on board, and we’re looking forward to growing the Hugo’s brand into new sites,” Dave Evans said.
Artemus Group, led by Adam Flaskas, Paul Henry, and CEO Luke Fraser, has solidified its presence at Manly Wharf with the recent acquisition. Now, the group controls all but one venue on the wharf, with Merivale’s Queen Chow being the sole exception.
“Hugo’s is a Manly institution and will remain the same as it is, and we’re excited to be working with Dave and David, who will continue to operate the business day to day and ‘business as usual’,” Fraser said.
Artemus has ambitious plans for Manly Wharf, including a $120 million redevelopment of the abandoned supermarket into a microbrewery and pub.
This follows the group’s successful rejuvenation of Brisbane’s Howard Smith Wharves, where a further $500 million investment is planned for a boutique hotel, pool, retail space, and a theatre hall.
The acquisition of Hugo’s Manly, brokered by HTL Property’s Andrew Jolliffe, marks a strategic move for Artemus. Jolliffe described the deal as “appropriately unique,” citing the strong partnership between the two hospitality groups and the potential for future collaborations.
Jonathan Jackson, 16th December 2024
