Criterion Hotel, Weston For Sale by HTL Property

HTL Property is delighted to announce the sale process for the Criterion Hotel in the State’s Lower Hunter Valley suburb of Weston.

Ned has been very acquisitive since, purchasing the Belmore in Scone, the Tattersalls in Casino and the Amble Inn in Corindi Beach; amongst others. Kelly is selling the asset in order to fund the refurbishment of other recently acquired assets.

“Due to the large population catchment and relatively low competition from other pubs, the Criterion has always enjoyed very pleasing revenue capture” stated HTL Property Director, Blake Edwards.

“Ned has improved the asset and grown revenue even further, however I think there exists additional growth in consolidating gaming further across the Kurri Kurri – Abermain statistical area” Edwards added.

“There’s a firm likelihood the Kurri Kurri – Abermain catchment becomes a ‘two pub town’ down the track” believes Edwards.

The venue operates a bar, bistro, 10 accommodation rooms, a gaming room with 15 machines: and a 3am liquor licence with average weekly gaming revenue in excess of $40k this financial year. Situated in the Newcastle orbit, Weston is about 10 minutes from Cessnock, 20 minutes to Maitland and 20 minutes from the outer suburbs of Newcastle.

“With low availability of on market pubs for buyers to choose from, continuing strong trading conditions and buoyant gaming entitlement values, it is expected that this asset will be commensurately keenly sought” Edwards concluded.

The Weston Hotel is being sold by HTL via an on market EOI sale program closing 2 November 2022; if not sold prior.

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