Popular Sydney hotel industry guru finalizes the sale of Newcastle’s legendary landmark with a multimillion-dollar price tag.
Newcastle’s most popular coastal destination, the Beach Hotel Merewether, has a proud new owner.
Although the ticket price is estimated to be more than twenty million, Sydney hotelier Andrew Lazarus acquired the property for an undisclosed sum well into the millions of dollars.
The 1858 sqm beachfront property is a dream location for any real estate investor or tourist.
It features sweeping, airy verandas offering breathtaking views of the Pacific Ocean.
Further reading: Sydney hotelier Andrew Lazarus buys Beach Hotel Merewether
For the past forty years, the location was co-owned by the Bale and Twohill families.
Former owner John Twohill admitted the move left him with “mixed emotions.”
Since its 1946 inception, the Art Deco-themed brick building has been a favorite of Newcastle locals.
And with an unbeatable location, it is ideally located within minutes of Newcastle CBD.
The Beach Hotel Merewether, affectionately described as a ‘Newcastle Trophy Asset, will be joining the Andrew Lazurus family’s exceptional hotel real estate portfolio, which includes the El Toro Hotel & Motor Inn, Warwick Farm, The Exchange Hotel, Hamilton, Shoal Bay Country Club, The Vauxhall Inn, Granville, and The Eastern in Bondi Junction.
Peter Lazarus, who oversees the Eastern Hotels Group, will assume the managing of daily operations of the Beach Hotel.
Boasting a menu that includes mouth-watering cocktails and delectable entrees, the pub is well-positioned for many years of continued success.
And with the historic sale now complete, the Lazarus family’s latest acquisition marks a changing of the guard.
The scenic landmark known to locals as ‘The Beaches’ is set for a future of modern restoration and 21st-century innovation.
It will be one to watch, for sure.
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Learn more about Lazarus: https://andrew-lazarus.medium.com/