Investor Offers to Buy The Village Inn in Paddington to Prevent Retail Conversion Following DA Rejection

In a dramatic turn of events surrounding The Village Inn in Paddington, Theo Onisforou, a prominent property investor known for owning approximately 20 buildings at The Intersection retail precinct, has extended an offer to acquire the venue.

The investor’s noble gesture comes as a response to the recent plans to transform the beloved pub into a fashion store, which have been met with fervent opposition from the community.

The $700,000 proposal (DA 243/2023) to repurpose the venerable establishment into a boutique for the internationally renowned Australian fashion label Alemais faced fierce resistance since it was first lodged in July 2023. In 5 Oct 2023, Woollahra Council rejected the development application.

In light of this, the owners of The Village Inn have submitted an appeal to the Land and Environment Court, looking to challenge local decisions regarding the proposed transformation.

Doubts Over Pub’s Viability

During a recent meeting of the Woollahra Local Planning Panel, Mr Onisforou questioned the claim that The Village Inn was financially unviable as a pub, a statement made by the building’s owner in support of the transformation into a fashion boutique.

He addressed the panel with his concerns, emphasising that it was disingenuous to dismiss the pub’s viability. Thus, he made an open offer during the panel meeting.

“If these people are unhappy with this building once they receive a DA refusal, I hereby offer to buy it formally from them at the price they paid,” he said.

Panel member Andrew Petrie raised questions about compelling the building owners to retain the space as a pub against their wishes. The discussion during the panel meeting involved arguments both for and against the contentious development application.

Support for Community Campaign

The investor, who supports the community campaign to preserve The Village Inn, also expressed the belief that developers have a responsibility to listen to residents and support the local areas where they conduct business. He asserted that he had, in the past, either challenged council decisions in court or abandoned his plans when faced with refusal, highlighting the importance of respecting local sentiments.

Meanwhile, the panel’s unanimous vote to refuse the development application signifies a significant victory for the community’s ongoing efforts to safeguard the beloved pub from transformation.

Whilst the future of the Village Inn has not yet been sealed, hope remains that the historic establishment will be preserved for generations to come because of investors like Mr Onisforou.

Published 24-Oct-2023