Paddington’s celebrated but under threat Village Inn is back in the news, after its fashionable new owner faces increasing push-back on a redevelopment and a neighbour has offered to buy it to save it as a pub.
At the start of the year it was announced Brodie Peterson, having owned it for a decade and undertaken a major refurbishment and rebrand to bring it more in line with its surroundings, had sold his Village Inn to an unnamed private investor for more than $6 million.
Established 1850, the Inn is a prominent three-level building on a corner site, between the inner-city suburb’s famed ‘Five Ways’ and The Intersection – the unofficial home to Australia’s best collection of fashion brands.
Marketing literature on the sale reported annual revenues circa $2.1 million and posed it stands well positioned to capitalise on the increased patronage to the nearby new Allianz Stadium.
In July the new owners lodged a proposal for a $700,000 reconfiguration of the historic venue to become a boutique for Australian fashion label Alemais.
The plans immediately encountered fierce backlash from the community, finding voice with Woollahra councillor Harriet Price and NSW MP Alex Greenwich, who took part in a rally to save the Inn. Greenwich said he supported the recommendation by an officer of the Council that the application be refused.
The resistance prompted the new owners to submit an appeal to the Land and Environment Court even before Council made its determination.
Woollahra Local Planning Panel met on Thursday to hear arguments for and against the application, where the owner asserted that it was not financially viable to keep the Village Inn as a pub at the address.
Theo Onisforou owns around two-dozen properties in The Intersection retail precinct.
Attending the panel meeting, Onisforou questioned the freeholder’s assertion that it was not viable as a pub, while acknowledging he didn’t want another dress shop “in my precinct” anyway.
He also offered that he believes developers have a responsibility to heed residents and support the area. He says he supports the campaign to protect the pub, and in a show of faith has offered to buy it.
Onisforou suggested that if their DA is refused and they no longer want the building he would buy it formally at the price they paid, saying “you won’t lose money”.
The recent sale was through HTL Property, and agent Sam Handy noted hearing of record trade levels and high optimism for the year ahead throughout the preceding months from Paddington and Woollahra hoteliers.
Woollahra Planning panel unanimously voted to refuse the development application. The appeal to L&E is still pending.
