Australian Venue Co has partnered again with Charter Hall to buy the freehold and operation of the White Cockatoo Hotel from Ray Reilly, as he looks to further endeavours.
Reilly group acquired the three level pub in 2017, then known as the West Village, from Goodtime Group. It became the third pub in the growing portfolio, following purchase of Newtown’s Sydney Park Hotel the previous year.
The pub was rebranded back to its original name and Reilly focused on considered improvements, investing over $3 million into the building and operations.
Located directly opposite Petersham train station, it provides expansive bistro and public bar areas, and the popular ‘backyard’ space featuring a kids’ play space, which opened in 2020. Its 19 accommodation rooms across the upper levels are consistently occupied by medium- and long-term tenants, and the eight gaming entitlements attached to the licence are leased out, contributing around $400k annually in passive income. Average weekly sales across departments are reported to exceed $125k.
Petersham is found 13 kilometres south-west of the Sydney CBD and continues to see growth and residential development.
Reilly says the hotel came at an exciting time for his group, but the loyal patrons and locals are “fantastic” and at the “heart of the success” of the reinvented White Cockatoo, evolving it into a vibrant neighbourhood pub, known for its character, warmth and strong local following.
Its sale marks only the second pub sold by the 30-year industry veteran, who began at the Trinity Bar in Surry Hills and operated it until the sale to Pete Calligeros in 2016.
While running the Trinity, investor Rene Aalhuizen partnered with the Irishman to buy the Henson Hotel. They went on to buy others together, including the Cockatoo.
Reilly Group is undergoing another period of reinvention. The makeover of Sydney Park Hotel came online in recent weeks and is said to have already doubled trade, and the Sutton Forest, bought late 2019, is being transformed into “something completely different” for the southern highlands.
Reilly says while the Cockatoo will always hold a special place in their memories, it’s nice to free up some capital for what’s to come.
“It’s given us a lot, but it was just time to let it go.
“The hotel’s been phenomenal over the years. We had to work for everything, but we certainly built a great partnership and connection with the community.”
The sale price of $17 million through an off-market campaign comes courtesy of the strategic partnership of Australian Venue Co (AVC) as operators, with Charter Hall holding the freehold.
The sale does not include the gaming entitlements, which will stay attached to hotel for five years before they are sold separately, marking for a significant transaction even as Sydney sees ongoing top tier pub sales such as JDA Collective last week buying the Bexley North Hotel.
But it does include Georgie, the pub’s mascot sulphur-crested cockatoo, who was thoughtfully relocated there after years on the bar of the Friend in Hand Hotel in Glebe, when that pub was reimagined and relauched by Reilly Group late 2025. Georgie is now said to be “on the inventory list” at Petersham.
“We are excited to be taking on such a classic Sydney venue after Ray’s incredible reinvigoration of the pub,” AVC CEO Paul Waterson told PubTIC.
“And we promise to take the very best care of Georgie the cockatoo,” he confided.
The sale had a personal connection for the managing agent, JLL Hotels’ Kate MacDonald, who grew up in the pub when her family owned it years ago.
“Ray, Rene and their team have built an extraordinary business,” offers MacDonald.
“The White Cockatoo exemplifies the type of community-focused, food and beverage-led venue that is becoming increasingly popular in the modern pub market.”
