Industry newcomers take over city fringe Rose

JLL Hotels & Hospitality Group is delighted to announce the sale of the long-term leasehold interest in the Native Rose Hotel in Rozelle to enthusiastic industry newcomers Matthew Younger and Kaine Costello.

Located on the bustling arterial passage, Victoria Road, which connects Drummoyne, Balmain and the CBD, the Native Rose Hotel (formerly ‘The Tatters’ and later ‘Ruby L’otel’) was operated by beer barons Mark Fethers and Tanya Maystrovoich, and offered a 17-year leasehold interest. Having co-founded The Rocks Brewery, the former owners will now look to focus more attention on their new beer label ‘Pickled Monkey Brewing Co.’.

After 25 years of friendship, and having been around the industry but not directly at the coalface, Younger and Costello look forward to their new adventure behind the bar.

“We are excited to bring a traditional pub to the inner west with an inclusive and friendly atmosphere for friends to meet and families to enjoy. We want to maintain the original look of the bar and plan on focusing on the atmosphere and getting feedback from the community and our patrons to ensure the pub is their local,” commented the new owners.

JLL Hotels Vice President, Kate MacDonald managed the transaction for Fethers and Maystrovoich, and suggests the Sydney metro leasehold market is experiencing unprecedented turnover.

“Unlike the majority of recently advertised leasehold sales around the fringe of Sydney where incoming operators are obtaining premium-free tenancies, we were able to secure our vendors with a very favourable exit price,” said MacDonald.

For discreet advice relating to a potential leasehold sale, please contact a member of our national team.

JLL Hotels & Hospitality Group, 9^th October 2020