By James Atkinson
This week's sale of the Petersham Inn is the latest in a flurry of inner western Sydney pub acquisitions by forward-thinking hoteliers.
Sold by Adam Spencer-Carr of Oxford Hotels under instructions from receivers Rodgers Reidy, Petersham Inn comprises about 780 square metres of total strata area over two levels and 15 electronic gaming machine entitlements.
Spencer-Carr would not divulge the identity of the buyer, a newer generation publican who has operated hotels previously.
"It will continue to trade as a hotel, but there will be an investment of further capital into improving the offering there," he told TheShout.
Spencer-Carr said the new owner's ambitions include a food and beverage overhaul and a better gaming solution. [continued below]
The Petersham Inn deal comes as Drink N Dine's Jamie Wirth recently revealed his group would take over the Oxford Tavern, also in Petersham.
Meanwhile, Ray Reilly of the Trinity Bar in Surry Hills has acquired the former Waugh Hotels venue, Henson Park Hotel in Marrickville, which he is now running successfully under a restaurant licence.
And Spencer-Carr revealed he has just leased The Whitehouse Hotel, a block down from the Petersham Inn at 450 Parramatta Rd, which new operators will soon relaunch under its old moniker, the Clarence Hotel.
Together with recent acquisitions by Riversdale Group, Spencer-Carr told TheShout inner western pubs are being reinvented to offer more sophisticated food and beverages, family friendly areas, entertainment, and lounge bar alternatives.
"The inner west is spearheading the evolution of the use of a hotel licence to incorporate an appeal to a widening demographic," he said.