Well-known Sydney hotelier Andrew Lazarus has acquired one of the most iconic pubs in Newcastle, the Beach Hotel Merewether.
The popular venue at 99 Frederick St, owned by the Bale and Twohill families for over 40 years, had price expectations of $20 million plus.
While the sale price has not yet been disclosed, Mr Lazarus told The Newcastle Herald that he was determined to “do everything possible” to get his hands on the pub affectionately known as ‘The Beaches’ after his family had been eyeing it off for some time.
The Lazarus family have owned and operated hospitality venues for 30 years. The Eastern Hotels Group manage a portfolio of assets that include The Eastern in Bondi Junction, Shoal Bay Country Club, The Exchange Hotel, Hamilton, The Vauxhall Inn, Granville and the El Toro Hotel & Motor Inn, Warwick Farm.
Director of the Eastern Hotels Group, Peter Lazarus, who played a large role in the $6.5 million renovation of the Shoal Bay Country Club, will take over the day-to-day running of the Beach Hotel.
Marketed by Deane Moore of Moore & Moore Real Estate in conjunction with Mike Wheatley of Knight Frank, The Beach Hotel is described as a ‘Newcastle Trophy Asset’.
With an unbeatable location overlooking one of the region’s most beloved beaches, the iconic circa 1946 brick building has been popular with locals since its opening.
The 1858sqm Art Deco style property features expansive verandas overlooking Merewether surf beach, which is just minutes from the heart of the Newcastle CBD.
The Lazarus family said that they were considering refurbishment, but wanted to take time to engage with the community and architects before making any decisions.
Long-term owner John Twohill said he had mixed emotions about the sale after running the pub for over 30 years.