The leasehold of the Botany View Hotel in Newtown has been sold to Balmain Hotel proprietor Justin Small in a deal negotiated by Kate MacDonald and Ben McDonald CBRE Hotels.
The leasehold to the Botany VIew Hotel in Newtown has been snapped up by Balmain Hotel proprietor Justin Small in an off-market sale.
Situated at the southern end of King Street near St Peters train station, the venue features an expansive two-level trading footprint, extended trading hours, a first-floor beer garden and 12 PME’s.
CBRE Hotels’ Kate MacDonald and Ben McDonald negotiated the leasehold sale on behalf of Paddy Coughlan, who initially listed the freehold going concern earlier this year, with no success.
Ms MacDonald said the deal was well suited to both parties.
“This is an ideal marriage of an enthusiastic operator thirsty for another opportunity and a long-time publican looking to exit the day-to-day," she said.
“Paddy has enjoyed some great success in Newtown, which currently acts as the entertainment hub of Sydney, but now he turns his hat to ‘landlord’, which will be a nice change of pace and keeps him in touch with the industry he loves”.
Ms MacDonald added the deal highlighted CBRE Hotels’ ability to "promote varying deal structures that provided commercially sound solutions for clients".
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