Family-owned Sweeney Pub Group is entering its next phase of expansion, signing and settling on inner west institution the Oxford Tavern in Petersham.
The dormant pub came to market in June through receivers and managers Cameron Gray and Adam Shephard of HM Advisory, to be sold as a blank canvas.
The large-format venue, on the corner of New Canterbury and Crystal Roads, boasts one of the largest trading footprints in the area and has operated for more than a decade as a late-night dive bar, courtesy of its 3am licence.
Drink & Dine took up residence in 2012, before the group’s venues were acquired by Australian Venue Co in 2016. A few years later AVC on-sold the lease to the Thorpe brothers, later becoming Odd Culture Group, but making moves into Melbourne the group opted to not renew the lease in 2023, when it expired.
Sweeney Pub Group (SPG) has previously invested in the Narooma Hotel on the NSW South Coast, which it sold to Ned Kelly earlier this year, and in Redfern’s Eveleigh Hotel. SPG still holds the Salisbury in Stanmore.
Having divested the pubs for more than three times their original acquisition prices, father and son team Mathew and Liam Sweeney (respectively) are looking to build on their successes and expand their presence in the Inner West.
In the next step for the business they have taken on new equity partner Angel Kennard, and paid around $5 million for the vacant freehold.
“We’ve had some great success acquiring and improving hotels over the years, and following the sales of the Eveleigh and Narooma, we’re now focused on growing the group further.
Angel Kennard stems from the family behind iconic Australian business Kennards Self Storage. She previously served as GM for the group at the Salisbury and Narooma and now joins the ownership team.
“Angel has played a big role in what we’ve achieved at both hotels, so having her join us as an equity partner is a natural progression,” adds Liam. “We share the same vision for the business and see plenty of opportunity ahead.”
Ending three years in the dark for the Oxford SPG wields plans for a substantial refurbishment, focusing on restoring its character and re-establishing it as a neighbourhood watering hole for great food, cold drinks and genuine hospitality.
“The Oxford has enormous potential, and we’re looking forward to bringing it back to life as a great local pub the community can be proud of,” Sweeney says.
Set on a large 734sqm site close to Petersham train station the Oxford is eligible for a development of up to six storeys, or even eight storeys through recent changes to the NSW planning framework under the Transport Oriented Development (TOD) provisions, which apply to sites within 400 metres of train stations or shopping centres.
Inner-city Sydney pub properties continue to attract interest, recent sales including a new partnership picking up Ray Reilly’s nearby White Cockatoo in Petersham, and Redcape buying both the Frisco Hotel in Woolloomooloo and Arthouse Hotel on Pitt St.
Still on offer in the area are the Empire of Annandale, returning to market in May, the Bellevue Hotel in Paddington, listed by Pete Calligeros in August, and most recently the Duck Inn of Chippendale.
Attracting a range of potential buyers that also included restaurateurs, developers, investors and retailers, the Oxford has sold through a competitive on-market campaign and a short settlement period managed by HTL Property’s Sam Handy and Blake Edwards.
“The hotel presents an incoming operator with a genuine opportunity to reactivate the business,” says Edwards.
“We’re delighted Sweeney Pub Group has recognised this opportunity, and look forward to seeing their vision come to life.”
