BOURKE ST BUYS KING ST BOTANY VIEW

In Property by Clyde Mooney

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Prominent publican Paddy Coughlan has secured another inner west pub, lauding southern King St and the Murphy family’s Botany View Hotel.

The Murphys have owned and operated the Botany View (BVH) for the past 26 years, and the modest pub has been seen as a rare entry-level opportunity for reinvention in the gentrified era of Newtown and Enmore.

Paddy Coughlan

Coughlan has been gradually acquiring inner west pubs with upside, beginning with his highly successful Lord Gladstone in Chippendale, and more recently his cultivated Lady Hampshire, nearby in Camperdown. The former Riversdale CEO concedes serious love for the area, having told PubTIC he sees the changes coming with the incoming population.

“I’ve noticed a real shift in recent years, with many Newtown locals gravitating towards the southern end of King Street.

“The recent acquisition of the Sydney Park Hotel by Ray Reilly and the Queen Victoria Hotel by Justin Hemmes has highlighted this migration trend.”

Close to St Peters train station and local development ‘St Peters Triangle’ the Hotel has an expansive footprint over two levels, with extended trading hours, and an upstairs beer garden licensed until 2am that is likely to become a magnet for devotees to the area.

Due to take the keys in late February, Coughlan says the pub is perfect for his group’s approach, and he plans to capitalise on both his and the venue’s strengths.

“The Botany View Hotel really suits my core skill set and acquisition strategy under the Bourke St banner.

“The Murphy family have been great supporters of the live music scene in the inner west, and we look forward to continuing this tradition.”

The BVH was marketed by CBRE NSW director Sam Handy and national director Daniel Dragicevich, who recognised the potential for the offering under the right operator. The sale price, north of $6 million, leaves scope for capex to grow the gosling into a swan.

“It is widely considered that a pub in this location with extended trading hours and a first-floor beer garden should be achieving much stronger patronage, and we foresee that Paddy will be able to replicate his historical success in the area and rapidly elevate the Botany View into a Newtown staple,” offered Handy.

Coughlan and his Bourke St brand have enjoyed great successes with fast reaction and witty promotions, such as ‘Goodkeg’, and the Lord Gladstone’s short-term name change to the Lord Turnbull, in support of the ‘Abbottsolutely Hopeless’ campaign to oust the former Prime Minister.