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Newtown’s Botany View Hotel is on the market. Photo: Fiona MorrisPubs that offer an expanded array of craft beers and food are gaining traction and are more cost effective, according to hotel property agents.
苏州美甲美睫培训学校

This is in part a reaction to the amount of choice available for patrons from small bars, pop-ups and fine-dining restaurants.

The latest pub to be offered for sale is Newtown’s Botany View Hotel. It is being sold through CBRE Hotel’s Sam Handy and Daniel Dragicevich​ on behalf of the Murphy family, which has owned the hotel and operated it under management for the last 25 years.

Located in King Street, Newtown, the pub has extended trading hours and a first-floor beer garden with 2am approval.

Recently appointed CBRE NSW director Sam Handy said the sale of the Botany View Hotel represents the final entry-level trading opportunity on King Street.

“We’ve seen a real shift in the last couple of years with a lot of Newtown locals gravitating towards the southern end of King Street and recent pub acquisitions by savvy operators such as Ray Reilly’s Sydney Park Hotel and Justin Hemmes​’ Queen Victoria Hotel, tends to add weight to this migration trend,” Mr Handy said.

CBRE national director Daniel Dragicevich said CBRE Hotels had recently sold two inner city food and beverage pubs – the Sydney Park Hotel in Newtown and the Trinity Bar in Surry Hills, with a third under agreement.

“This appears to be a national trend shared across the states as our agents in Melbourne, Brisbane and Perth have also reported an increase in inquiry across the food and beverage segment,” Mr Dragicevich said.

The sales come as prominent food and beverage group Keystone is now in the hands of receiver and manager Ferrier Hodgson. The group has been charged with the sale of Keystone Hospitality’s stable of 17 bars, pubs and restaurants across Australia.

In what is effectively a debt issue, the group was placed into receivership last week by a syndicate of lenders due to an inability to reach agreement with the board on key aspects of Keystone’s financial structure.

Receiver Morgan Kelly said the venues will continue to trade on a business as usual basis while the receivers assess each venue in preparation for a sales campaign. Given the buoyant hospitality market a lot of interest in the venues is anticipated.

Mr Kelly is in the process of appointing agents for the sale of the businesses, most of which are leaseholds.

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