#33 Dre Walters, Old Mates Place/Old Loves Sydney "Day One of Building, We Hit Asbestos — I Hung Up and Didn't Know What to Do"
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#33 Dre Walters, Old Mates Place/Old Loves Sydney "Day One of Building, We Hit Asbestos — I Hung Up and Didn't Know What to Do"
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Dre Walters co-owns Old Mates Place and Old Loves — two bars tucked away on the fourth floor and basement of a century-old Sydney building. Getting there means riding a rickety 1920s lift or climbing narrow service stairs, but that's part of the charm.
In this conversation, Dre talks about what actually happens when you open a bar: hitting asbestos on day one of the build, losing $85,000 before you've poured a single drink, and working with a lift that's broken down for months at a time. He also shares how his background in commercial real estate helped him negotiate leases, why he walked away from seven potential sites before finding the right one, and what it took to build a rooftop bar with no money left in the budget.
We also get into the stuff people don't usually talk about — like the heartbreak of spending months on plans for a second rooftop venue, only to have council reject it at the final hurdle. And we touch on what's coming for Australian hospitality, as excise taxes push cocktail prices toward $35 and small operators figure out how to stay afloat.
If you're thinking about opening a bar, or you're already in the thick of it, this one's for you.