The Next Balmain Pub Sale by HTL Property

The discreet off-market transaction was negotiated by HTL Property’s Sam Handy and Blake Edwards, and follows on from HTL’s recent announcement regarding the pre-Auction sale of the nearby Town Hall Hotel for $9,500,000.

The East Village business was generating annual revenues of ~$2,600,000* and was sold by high profile ex-Macquarie bank partner John White, who acquired the keys in 2017 from local Balmain hotelier and identity, Tim Condon.

John and his wife Peta have run a very strong gastro pub operation over the last eight years, culminating in the hotel being nominated as a finalist for numerous AHA awards.

The hotel business has been acquired by local restaurateur, Matt Turner; who formerly owned and operated the popular Rosebud Restaurant in Rozelle. As successful purchaser, Matt has intentions of repositioning the East Village Hotel with a more compelling and contemporary food and beverage offering – that he believes will resonate with the younger Balmain demographic. The new purchaser has plans to potentially refurbish the premises, perhaps even activating the first floor into a restaurant.

Repositioning old pubs within the Balmain catchment has proven very popular in recent times with Justin Hemmes activating his innimitablle Totti’s concept within the old Three Weeds Hotel in Rozelle – whilst ex-Felix chef Ben Sitton has achieved rampant success with the outstanding Dry Dock Hotel.

Furthermore, rumours abound that the incoming owners of the Town Hall Hotel have secured a high profile Melbourne chef to resurrect and reposition its current dormant business.

“We’re seeing more and more hoteliers seeking to collaborate with high end chefs in order to activate restaurant quality food and beverage concepts upon pub trading footprints” suggested HTL Property Director, Sam Handy.

“There’s a delicate balance, but it’s becoming increasingly difficult for some of these acclaimed and high end chefs to run a profitable fine dining restauarant; whilst greater numbers of customers are seeking elevated food and beverage options in perhaps a more approachable atmosphere” Handy added.

This transaction follows several recent high profile inner city pub transactions recently negotiated by HTL Property, and including the Billy Barrys Hotel (North Sydney), Town Hall Hotel (Balmain), Rose, Shamrock & Thistle Hotel (Paddington), and The Union Hotel (North Sydney). The leading specialist brokerage firm is also currently marketing the outstanding Empire Hotel in Annandale.

“Balmain has clearly come a very long way since its origin in 1800 when it formed part of a 550 acre government grant to namesake, William Balmain. But equally, it has over the past 125 years always remained a Sydney suburb well known for its proliferation of public houses (pubs), and we are delighted to have featured in numerous transactions over the years in such a proud and now very aspirational part of Sydney” concluded HTL Property Managing Director, Andrew Jolliffe.

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