JLL Hotels & Hospitality Group announce the off-market sale of the leasehold interest in East Village Sydney, located on the high-profile corner of Liverpool and Palmer Streets in Darlinghurst.

Known for one of the best rooftops in Sydney, the East Village has been operated by Locky Paech of Goodtime Hospitality for the past 8 years after he and former business partner James Bodel transformed the pub through a significant renovation.

The pub consists of a ground floor public bar with extensive footpath seating, first floor commercial kitchen and large manager’s office, second floor ‘Athletic Club’ boasting plush leather booths and state-of-the-art audiovisuals, and finally the rooftop terrace with breathtaking views of the city skyline.

Having sold the freehold interest in 2020, JLL Senior Vice President Kate MacDonald was appointed to quietly sell the leasehold interest to assist Mr Paech as he undertakes a slight career shift.

The purchasers have been identified as experienced operators Brian Sarkis (current licensee of ArtHouse Sydney) and Mathew Orr (current licensee of Great Northern in Newcastle) who have come together with Ben McBeath in a newly formed syndicate, aptly named ‘Tipple Time Hospitality’.

Commenting on the purchase, Mr Sarkis reflected on an email received on his first day at the ArtHouse which read “We are going to achieve big things together, I can feel it.” Sarkis continued, “I didn’t think that would mean acquiring such a stunning venue in the East Village Hotel, only 2 years later.

"Ben, Mat and I, as Tipple Time Hospitality are excited to refresh an already brilliant establishment. It has the best rooftop view in Sydney, and we can’t wait to hit the ground running.”

Ms MacDonald highlighted the continued curiosity in leasehold hotels, “in the current interest rate environment, investing in a long-term lease appears to be of increasing appeal.  The team at JLL continues to field enquiries from astute hoteliers looking to diversify and boost cash flows within their portfolios.”

With $95m in transactions yet to be announced, deal flow and transaction momentum across our national hotels platform continues to build in the market.

Click here > to view more pubs recently sold or listed for sale.