Ray Reilly has listed his inner west icon the White Cockatoo Hotel as the group progresses with portfolio rejuvenation.
A 30-year industry veteran, Reilly bought the three level pub in 2017, then known as the West Village, continuing an expansion that had begun with acquisition of Newtown’s Sydney Park Hotel the year prior.
The new entry to the group was rebranded back to its original name as more than $3 million was injected into the building and operations. Both the expansive bistro and public bar areas were reinvigorated, and a rear courtyard beer garden and kid’s area was created, which immediately boosted sales by 20 per cent.
Reilly says the Cockatoo has been a “really good story” that helped them get where they are now, but after the better part of a decade he explains there’s a lot going on at their venues.
“The Cockatoo has been a phenomenal community pub for us,” he says.
“We feel it’s the right time to divest and concentrate on what we’ve currently got going on.
“I think there’s a bit more for the incoming, with fresh eyes. An astute operator will be able to see where they can add a bit of value.”
The Cricketers Arms in Balmain, purchased in 2022, has been undergoing a $2.5 million build, with a “big reveal” in coming months, to unveil a new sports bar, gaming area and rear extension.
Late 2024 the Friend in Hand joined the collection. This year brought a makeover, and Reilly says the new fit-out is “off to great start” but has taken a lot of time and requires ongoing tweaks.
The Sydney Park Hotel is six weeks into works slated to take 20 weeks, bringing to new rooftop bar and pool hall at the end of 2025.
And south of Sydney, plans are afoot to transform the Sutton Forest, bought late 2019, into “something completely different” for the southern highlands.
“The Cockatoo is just one of those pubs that feels good; everyone knows it, it’s got a good rap in the community and beyond,” adds Reilly.
“We’re proud of that. Hopefully it goes to someone who can carry that on and add their bit.
“Pubs have been around hundreds of years. Owners come and go.”
The Cockatoo incorporates 19 accommodation rooms across the upper levels, consistently occupied by medium- and long-term tenants. The pub also holds eight gaming entitlements, currently leased out and contributing to the $400K annual passive income reported.
Found around 13 kilometres south-west of the Sydney CBD, Petersham has enjoyed significant growth in recent times, as seen at Deicorp’s residential development of 357 apartments, just metres from the hotel.
Revenue across multiple streams is reported at more than $125K weekly.
The White Cockatoo is being offered by way of Expressions of Interest, closing Tuesday, 9 September, through HTL Property’s Dan Dragicevich, Sam Handy and Blake Edwards, who note its strong “day one” cash flow and minimal requirement for capex.
“There has been a noticeable shift in recent times, with many groups looking to inject additional F&B trade into their portfolios, to which the White Cockatoo would cater perfectly,” says Dragicevich.
This campaign follows the recent city-fringe sales of the Rose Shamrock & Thistle (3 Weeds) in Paddington and Balmain’s Town Hall Hotel.
