Only days before lockout laws are removed from Sydney’s once-iconic party strip Kings Cross, one of its most popular pubs is put up for sale.
O’Malleys Hotel on William Street in Wooloomoloo has gone into receivership and was listed only four days before lockout laws are to be scrapped on March 8.
The popular Irish bar has been shut since December 2020, having struggled under the laws that stopped it from serving alcohol after 1.30am for the past seven years.
The shock closure comes after the NSW Government decided to revive the area’s night-time economy by letting venues trade until 3.30am.
O’Malleys Hotel on William Street in Wooloomoloo (pictured) has gone into receivership and was listed only four days before lockout laws are to be scrapped on March 8
The popular Irish bar has been shut since December 2020, having struggled under the laws which stopped it from serving alcohol after 1.30am for the last six years. Pictured: Empty streets of Kings Cross during the Covid lockdown in April 2020
In 2005 the Australian Financial Review reported the hotel was purchased in an off-the-market deal for $9million.
Industry sources told Daily Mail Australia that comparable hotels sold for about $14 million in recent years, including Bells Hotel in Woolomoloo which was bought for $13.5 million in November 2018.
Receivers hope the scrapping of lockout laws, which began in February 2014, will revive the district and drive up the value of the tavern.
Lockout laws shutting down drinks venues from 1.30am were removed from venues in Sydney’s CBD in January last year but had remained in Kings Cross.
From March 8 alcohol can be served in the Cross until 3.30am – giving patrons an extra two hours of drinking and entertainment time.
Sydney’s controversial lockout laws will be scrapped from Kings Cross (pictured in better days) next month after being introduced six years ago in a bid to stop alcohol-fuelled violence
Restrictions on particular drinks, shots, cut-price cocktails and glass tumblers after midnight will also go, as will the requirement for responsible service of alcohol marshalls and CCTV surveillance.
The laws were introduced in 2014 after 18-year-old Thomas Kelly was killed in a one-punch attack as he walked along a Kings Cross street.
NSW Premier Gladys Berejiklian said the changes would boost jobs and revitalise the once-infamous Kings Cross precinct.
‘Kings Cross has transformed considerably since these laws were introduced over six years ago,’ she told The Sydney Morning Herald on Tuesday.
The laws were introduced in 2014 after the death of 18-year-old Thomas Kelly who was killed in a one-punch attack as he walked along a Kings Cross street. Pictured: Sydney protest rally against the laws
‘The precinct is now well-positioned to continue to evolve into a vibrant lifestyle and cultural destination with a diverse mix of small bars, live music venues and restaurants.’
After reviewing the lockout laws in 2019, the NSW parliamentary committee found the state could be foregoing $16 billion in economic activity as a result.
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Independent MP for Sydney Alex Greenwich, whose electorate includes Kings Cross, welcomed the change.
‘Harmonising the licensing conditions with the rest of the Sydney CBD and Oxford Street is long overdue and will bring hope to businesses who have been doing it tough,’ he said in a statement.
‘Global cities don’t tell people when to go to sleep, they help them have a fun and safe night.’
Much had changed since 2014 when the lockouts were first introduced, he added.
‘The 24-hour beer barns are gone, and a more sophisticated dining, small bar, and entertainment offering is ready to thrive,’ he said.
‘Kings Cross is well-placed to have a safe and vibrant future.’
NSW Premier Gladys Berejiklian said the changes would boost jobs and revitalise the once-infamous Kings Cross precinct. Pictured: inside a Cross nightclub
Timeline of past events
July 9 2012: Fatal one punch attack on teenager Thomas Kelly in Kings Cross
January 12 2014: Daniel Christie killed in an another one punch attack in Kings Cross while celebrating on New Years Eve
January 2014: Newspapers and television began launching multiple campaigns to introduce lockouts in Sydney after a string of alcohol fuelled deaths. Pressure grows for Premier Barry O’Farrell to make a change
January 2014: Barry O’Farrell government caves into the media and introduces lockout laws
February 2014: Lockout laws were first introduced to Sydney which denied entry to people after 1.30am. 176 licensed venues in Sydney CBD closed their doors
February 2016: Matt Barrie slams politicians for ‘destroying the soul of the city’ in an 8,400 word rant on LinkedIn. This sparked the Keep Sydney Open Movement
2016: Keep Sydney Open movement began- People marched in protest of the lockout laws
September 2016: Ian Callinan, former Justice of the High Court of Australia, reviewed the laws
December 2016: NSW Government said it would relax the laws due to businesses seeing patronage fall
October 2018: Lord Mayor Clover Moore supported reversing the lockouts while rumours circled that NSW government would relax laws soon
January 2020: Sydneysiders could enter CBD venues after 1.30am and order drinks until 3.30am
March 2020: Alcohol can once again be served in Kings Cross until 3.30am
‘The precinct is now well-positioned to continue to evolve into a vibrant lifestyle and cultural destination with a diverse mix of small bars, live music venues and restaurants.’ NSW Premier Gladys Berejiklian welcomes the decision. Pictured: Kings Cross
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