Colin Fassnidge, together with his business partners, has sold Paddington’s iconic Four in Hand Hotel to the Public House Group for a rumoured $8 million.
Speaking with Hospitality, Fassnidge says that a number of factors led to the sale, namely that the business had outgrown the space.
“We’ve been toying with the idea of looking for a bigger venue because it’s actually quite small for the amount of work that we’re doing in it – it’s bursting at the seams,” says Fassnidge. “Also, one partner wanted out so it was a good opportunity to get out and get some cash.”
Fassnidge says he’ll open a new restaurant in 2016, and the venue’s format will be similar to that of 4Fourteen, a slightly more casual wine bar that he operates in Surry Hills. The food offering will be similar to what’s currently on offer at Four in Hand, and as far as a location goes, Fassnidge says that he, together with business partner Joe Saleh, haven’t secured a site just yet.
“We’re looking everywhere. We’ve just got to find the right place with landlord’s that aren’t too greedy.”
French chef and fellow Paddington restaurateur Guillaume Brahimi is said to be creating the menu for the new owners of the Four in Hand, however this is yet to be confirmed.
“There is a rumour. I know he’s looked at it but I don’t know what they’re going to do. I hope it’s Guillaume because you’ve got to be very careful of what you do here because if you do it wrong, Paddo will crucify you. There are a couple of pubs that have been done up lately in the area that are dead… I think Guillaume’s a good man; I hope it’s him. I don’t want to see it ruined.”
Four in Hand’s last service will be in early February 2016.
Earlier this week, Fassnidge also announced plans to open a fish ‘n chipper on Sydney’s North Shore. Fassnidge says that the new eatery will offer takeaway, but will be presented in caf style format as opposed to a traditional fish 'n chipper.