GARRY OWEN MOVES TO MEN’S GALLERY

The team behind the Men’s Gallery venues has bought Rozelle’s Garry Owen with plans to capitalise on the potential of the 1920 community pub.

The Garry Owen occupies a sizeable 358sqm site on a prominent corner of Darling Street, just off arterial Victoria Road. The handsome two-storey Colonial-style building has retained much of its façade’s period character through a number of alterations to the internals.

For the past five years it has been operated by industry first-timers Bill and Margaret Sloan, and her sister Jennifer Cott, since their purchase from the Laundy Group. The group re-introduced a dining offering and worked to connect with the local community through support for the Balmain cricket and soccer teams.

Looking to move south to care for the sisters’ aging father and sole parent, they listed the freehold going concern in 2017.

The Hotel offers a public bar, bistro and gaming room with 10 EGMs on the ground level, and upstairs a spacious all-weather front balcony overlooking Darling Street, with dedicated bar, and rear balcony offering views to the city.

It shows weekly revenues just north of $20k, predominantly coming from bar. Beyond the clear upside of the approximately 50 per cent of the first floor being unused, the Garry stands to benefit from a revised upmarket food offering in step with the inner-west demographic.

Stepping up to take the reins is Renato Botter, and father and son Bruce and Christian Harden.

The acquisition, which sources report was circa $5.5 million, expands on the partners’ Men’s Gallery portfolio, being the Illinois Hotel at Five Dock, and Dancers Cabaret in the CBD.

“We always liked the area,” reports Botter. “I think it does have potential. Pubs have changed in the area a fair bit – a lot have closed down – but there was still a gap for this pub, I think, a good little corner pub.”

Botter says they intend to renovate and literally expand on business in the upper level, with plans to remove inner walls for a larger useable area.

“We’re definitely going to try to keep it a family pub, just a normal drinking pub, and going to try to improve the food, possibly have an Italian restaurant there, if we can.”

The news coming just days after the nearby Dick’s Hotel hit the market and two weeks after Balmain’s Town Hall was listed for sale no longer as a pub, Botter does not rule out further expansion for the group.

“It just depends what comes on the market – and the opportunity. You never know what’s around the corner.”

Divestment of the family’s pub was through Ray White Hotels’ Blake Edwards and Andrew Jolliffe.

“The sale represents continuing strength in the Sydney metropolitan pub market, despite low levels of on-market stock, and generally low transaction numbers,” poses Edwards.

“We are anticipating a similarly strong level of inquiry on Dick’s Hotel in Balmain, which hit the market on the weekend.”