Surry Hills stalwart the Forresters Hotel has been purchased by Ben Carroll and Hamish Watts’ specialty group Applejack, marking their first pub venture in four years.
Carroll and Watts worked together in the late 2000s within National Leisure & Gaming (NLG), before taking their own path and opening a total of seven bar-restaurants and two cafes throughout Sydney, including The Butler in Potts Point, The Botanist in Kirribilli and Bopp & Tone in the Sydney CBD.
The Forresters is a corner landmark on Foveaux Street in vibrant Surry Hills, previously doing a roaring trade operated by Jaime Wirth’s famously pokies-free Drink ‘n’ Dine Group, which was sold to AVC in its previous form as Dixon Hospitality in early 2016.
Ready to resume the challenge of a city-fringe pub sans gaming, the Forresters represents Applejack’s first pub opening since the Endeavour Tap Rooms, also in 2016. The guys plan to relaunch in the coming months, following a major renovation ushering in a brand-new offering.
“We are pumped to be undertaking this new project.
“It is an iconic Sydney pub that has endured a mixed identity over the past few years. Our goal is to deliver a community-centric watering hole with an Applejack twist.”
They explain the long-term lease comes as an attempt by Applejack to spread its risk post-pandemic.
“In these uncertain times, we wanted to diversify our group with a more casual offering in a truly special Sydney Suburb.”
Sale of the business was negotiated by JLL Hotels’ Kate MacDonald in conjunction with commercial real estate agent Ari Danas of Danas Property, who report a good result out of complicated conditions.
“Our client set out to attract a long-term tenant with a quantifiable background of success in the food and beverage industry, and Ben, Hamish and their team at Applejack were the ideal candidate,” says MacDonald.
“However, the deal required some manoeuvring to help achieve a mutual agreement in these uncertain times. Despite COVID-19 and the unknown future impact on our industry, there are certainly ways in which solid deals can be struck that benefit all parties through creative thinking, and a personal understanding of the buyer’s and seller’s ultimate goal.”
