New custodians in for long haul at Native Rose Hotel
The long-term leasehold interest on a popular pub in Sydney’s inner west has been snapped up by a pair of industry newcomers.
Matthew Younger and Kaine Costello bought the 17-year lease on the Native Rose Hotel in Rozelle, taking over operations from beer barons Mark Fethers and Tanya Maystrovoich.
The Victoria Rd pub was previously run by the The Rocks Brewery co-founders, who are now looking to focus on their new venture, Pickled Monkey Brewing Co.
Younger and Costello, who have been friends for 25 years, say they’re looking forward to getting stuck into the bar trade.
“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,” the pair say.
“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.”
JLL Hotels’ Kate MacDonald, who managed the sale on behalf of Fethers and Maystrovoich, says the deal was “very favourable” for their clients despite the Sydney metro leasehold market 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,” says MacDonald.