Sydney pub market activity for 2023 has kicked off, with the freehold of the Village Inn in Paddington sold.

Industry owner-operator Brody Peterson of the Parlour Group – which also owns Hotel Hollywood (Surry Hills) and Riley Street Garage (Darlinghurst) – sold the freehold of the picturesque hotel. The hotel sale was managed by Sam Handy and Blake Edwards of HTL Property, in conjunction with Stef Ippolito of IB Property.

“We’re absolutely delighted with the outcome on the Village Inn and are excited to see what the new owners will do,” stated Peterson.

The hotel – located in between Sydney’s CBD and its affluent eastern suburbs – is currently leased by hotelier Ben Stehr of Stehr Hospitality, while a DA is lodged to repurpose the upper floors of the building.

The HTL Property team suggested the sale continues an emerging trend among investors to acquire freehold pubs with intentions of leasing the freehold to a tenant possessing the expertise to activate a more sophisticated food and beverage proposition upon the trading footprint.

The three-level corner pub overlooks Paddington’s Intersection precinct, known as the unofficial home to Australia’s best collection of fashion brands. The hotel is also located in the vicinity of Allianz Stadium, which has seen increased visitation return after its recent overhaul was completed, with major sporting events and concerts once more held within the venue.

Nearby hoteliers have benefitted from resumed activities at the stadium, with foot traffic – and confidence in the area – returning.

“We’ve been speaking with a lot of Paddington and Woollahra hoteliers over the last few months, and they’re all reporting record trade levels and feeling incredibly optimistic about the trading prospects for the year ahead,” stated Handy.

The identity of the Village Inn buyer, as well as the purchase price, has not been made public.

Vanessa Cavasinni

Vanessa Cavasinni is the managing editor of Australian Hotelier and Club Management, trade publications for the pub and club sectors respectively. Vanessa has been at the helm of Australian Hotelier since...

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