Keystone Group receivers have confirmed the sale of Chophouse Sydney to Bruce Solomon and Matt Moran’s hospitality group, Solotel.

Morgan Kelly, which is managing the sale of Keystone Group’s venues after it was placed into receivership in June this year, said that all parties had agreed that Solotel was the preferred bidder for the restaurant, which specialises in grilled meats and fine wine.

Mr. Kelly said, “Finalisation of the sale to Solotel is an exciting development and the deal represents a great outcome for patrons and staff.”

National Director Daniel Dragicevich of CBRE Hotels, which specialises in hotel property investment said, “The Chophouse Sydney was one of the more keenly sought after assets in the Keystone portfolio and Bruce Solomon and Matt Moran are the perfect operators to take the venue forward.”

drinks bulletin was unable to reach Solotel in time for comment on the purchase.

Mr. Kelly said that the sale of the Sugarmill Hotel in Sydney’s Kings Cross has also been confirmed to a consortium with interest in the freehold. According to Mr. Kelly, the consortium will continue to operate the venue.

This leaves Chophouse Perth and Kingsleys Steakhouse in Brisbane as the last two venues to be sold from Keystone’s portfolio. A spokesperson for Morgan Kelly said that the receiver is expecting to provide the market with an update on their sale within the next few weeks.