Kings Cross pub O’Malleys up for sale days before lockout laws end

Iconic Kings Cross pub O’Malleys Hotel has been put up for sale — just days before the lockout laws that have partially cruelled it for the last decade are set to be lifted.

Iconic Kings Cross pub the O’Malleys Hotel has been put up for sale — just days before the lockout laws that partially cruelled it for the last seven years are set to be lifted.

Once renowned as the starting point for a big night out in the Cross, the renowned Irish bar and live music venue perched in the shadows of the totemic Coca-Cola sign has laid dormant since it ceased trading in December.

The top floor of the iconic pub has views out over the Sydney CBD, Harbour Bridge and the Opera House.

It’s understood the impact of COVID-19 crippling its life-blood of fun-seeking young backpackers, combined with the long-time impact of the lockout laws hurt trading conditions.

However, the potential revamp of a renewed Kings Cross entertainment precinct heralded by the rolling back of the lockout laws signals an exciting new time for the pub and the area.

Industry sources indicate that similar pub sales in the area could see a price for the good-times old boozer reach as high as $14m.
It’s understood a dispute involving its ownership resulted in big-four accountants KPMG being called in to broker a sale, with the firm calling in hotel specialists HTL Property for the job.

According to HTL Property, the business offers “a veritable blank canvas”, coming with a 24-hour gaming licence and 15 rooms traditionally used as backpacker accommodation.

Top floor rooms include sweeping views of such iconic sights as the Harbour Bridge and Opera House, while previous DA approvals have greenlit further development for extra rooms and extensions on top of the site.

The iconic pub has played host to roving bands of fun-loving backpackers over the years. Source: Supplied

Greg Peek, a tour operator who kicked-off backpacker pub tours starting at O’Malleys a decade ago, said he hoped the venue’s “pub element would not be lost”.

“Being where it was at the top of the hill under the Coca-Cola sign, it was a good first stop before the Cross,” Mr Peek, of Dave’s Tours, said.

“It was always a good starting pub and it opened late – you could always get a beer there late.

“It’s part of the history of Sydney and Sydney’s pubs, and that history is best told over a drink.”

The last two years has seen fellow city pubs such as the Courthouse Hotel (Darlinghurst), Quarryman’s Hotel (Pyrmont) and Bells Hotel (Wooloomoloo) have also sold.