Lord Dudley pub up for sale as eastern suburbs watering holes change ownership

Publican Jamie Couche at his hotel The Lord Dudley in Paddington. The hotel is on the market

Publican Jamie Couche’s decision will come as a shock to locals as he has consistently knocked back a stream of inquiries in the 35 years he’s been mine host of the 130-year-old Jersey Rd property that’s styled as a traditional English pub.

After considering the latest interest delivered to him by hotel broker Michael Wheatley of Knight Frank Australia, English-born Couche has decided to test the water, with industry observers tipping a sale price about $8 million.

The Lord Dudley Hotel is officially on the market for $8 million

Couche purchased the freehold property from Tooth & Co in 1989 after he had operated it for a decade on lease.

“The (Lord) Dudley is arguably Australia’s best-known pub, with a steady stream of customers from overseas especially the UK,” said Mr Wheatley, who sold the Woollahra Hotel on Queen St to the Ryan family in 2011 for $16.25 million.

“Its sudden availability is expected to attract a lot of interest as there is a renaissance clearly under way in hotels situated in the Woollahra-Paddington area.

“Whereas Surry Hills and Darlinghurst have had a lot of activity with wine and small bars popping up everywhere, the focus is now clearly on the pub market in the east.”

Woollahra’s Centennial Hotel recently sold for $6 million

The Centennial Hotel at Woollahra is one of several eastern suburbs watering holes to change ownership

This year, the Centennial Hotel on Oxford St was sold to Roy Medich’s Halycyon Group for $6 million, the Bellevue Hotel on Hargrave St was offloaded by Riversdale Hotels (a consortium featuring adman John Singleton, former Qantas CEO Geoff Dixon and venture capitalist Mark Carnegie) to former Ferrier-Hodgson consultant Peter Walker for $5 million and the Paddington Arms on Oxford St was snapped up by hospitality czar Justin Hemmes for $5.15 million.

As well, the Avramides family has just leased its Grand National Hotel on Underwood St for an undisclosed amount.

The iconic Lord Dudley has played host to scores of celebrities over the years and attracts big crowds when there is sports action at the nearby Sydney Cricket Ground, Allianz Stadium and Randwick’s Australian Turf Club.

The Bellevue Hotel in Paddington sold for $5 million

The Paddington Arms Hotel exchanged hands for $5.15 million

Former late legendary cricket commentator Alan (‘The Game is not the Same’) McGilvray called it home — as a plaque in the main bar records — while the man who replaced him behind the ABC radio microphone Jim Maxwell is a regular customer.

A photo of famous boxer Les Darcy hangs on one wall, a reminder that the present-day basement restaurant was once his makeshift gymnasium when he dated a previous owner’s daughter.

Over the years, the likes of TV personality Kerri-Anne Kennerley, swim champion John Konrads, actors Keanu Reeves and the late Heath Ledger, music supremo Denis Handlin, cricketer commentators Ian Chappell, Mark Taylor and the late Tony Greig and rugby league coach Ricky Stuart have enjoyed the occasional libation there.

While one of the Lord Dudley’s most famous and unique attractions — enjoying a drink on the footpath — was unexpectedly temporarily halted by local police in February, all soon returned to normal two weeks later when a new local liquor agreement was signed.

The footpath ban attracted condemnation from the pavement brigade. Just when customers were finalising plans to stage a public protest, news trickled through that the three-decade-old tradition was happily about to resume.

Source:  The Daily Telegraph - 5 April 2014