KELLY LOOKS TO REVIVE THE EDDY

In Property by Clyde Mooney

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One of Bathurst’s oldest pubs is set to be revived, entering the growing portfolio of local operator MPK Hotels.

The two-storey Edinboro Castle Hotel occupies a big 1300sqm plot in the middle of Bathurst thoroughfare William Street.

‘The Eddy’ has long been known for its all-day happy hour bar prices, but in recent times has traded only intermittently, predominantly as a function space.

It holds title on seven PMEs, but five of these are leased to a pub in Sydney for the next 18 months, leaving only two onsite. The leases generate a passive annual income of $150k for the business.

The pub boasts one of the town’s best beer gardens, and there are accommodation rooms upstairs, although they haven’t been in use for a while.

Lyon Majestic Hospitality Group still owns the Oxford Hotel in Bathurst, but Ash Lyons engaged Nick Butler to sell The Eddy off-market.

“Within ten days of listing it was done,” reports Butler of the quick turn-around to Nelson Kelly’s group.

“MPK has several other pubs in the central west. He’s consolidating his presence in the area to bolster efficiencies.”

Kelly plans to return the Edinboro to full weekly trading, and is currently considering its potential in other revenue streams.

“We purchased the Dudley nearly 12 months’ ago, and love the city and people,” he says. “We were – and still are – keen to get more involved in Bathurst.

“We have heaps of ideas, but haven’t got any rock-solid plans for the Eddy yet, and looking forward to it.”