Small Pubs has taken the next steps in its investment into Newtown, purchasing and adorning the freehold of Paddy Coughlan’s Botany View Hotel.
Justin Small – previously one of the partners in Balmain Pub Group – took on a new 20-year lease at the BVH in late 2019.
The lease sale through Kate MacDonald at CBRE Hotels came as Coughlan looked to pursue other business interests, happy to take a step back and take a turn at being landlord.
Located at the St Peters end of bustling King Street, the BVH enjoys two trading levels, including a popular rooftop garden, commercial kitchen, dining room, gaming room with 12 machines, and bottleshop, with extended 2am trading Thursday to Saturday.
It had developed a good reputation as a live music venue, hosting around three bands each Friday and Saturday night, with DJs upstairs.
“That’s what I’m excited about – having music at a venue, because it’s been pretty much snuffed out in a lot of venues today,” Small said at the time.
He now claims the end goal, taking the freehold investment on what was reported to be a sub-five per cent yield.
“Despite the Government-mandated trading restrictions imposed over the past 12 months, we have really enjoyed our tenancy at the pub,” says the new owner.
“Securing the freehold has always been the final piece of the puzzle and we are relieved and excited to have achieved this result.”
With the ink still wet on the deal, the back of the pub saw the return of infamous street artist Scottie Marsh.
No stranger to controversy, Marsh continues a theme in mockery of Prime Minister Scott Morrison, depicting him as “Captain Cooked” in a huge mural overlooking Maria Lane. This is the latest of several controversial murals painted by Marsh on the BVH, most famously including one of former PM Tony Abbott and Cardinal George Pell in a compromising situation.
Sale of the freehold was also managed by MacDonald, now at JLL Hotels, who spoke of Coughlan’s divestment strategy.
“Our aim was to deliver an outcome in line with our vendor’s goals, which meant maintaining flexibility in the transaction process whilst maximising the overall exit price.”
