HTL Sells Another Newcastle Hotel

Following recent announcements of Newcastle Hotels sales, in the form of the all time record Beach Hotel Merewether and the Beauford Hotel, leading agency HTL Property today announces the sale of the Northumberland Hotel on behalf of long term owner, Nancy Duggan.

Situated in the park side Newcastle suburb of Lambton, the strategically located corner pub was purchased by veteran hotelier Tom Adams; following an off-market sale process managed exclusively by HTL’s Blake Edwards and Dan Dragicevich.

Situated upon a dual street fronted 727sqm block, the popular hotel has been continuously owned by the Duggan family for more than 30 years.

“The Northumberland really does present all of the underlying investment fundamental astute hoteliers identify with, notwithstanding the sites mixed use development potential, and is why the Duggan family have enjoyed such a long prosperous tenure” advised HTL Property Director, Blake Edwards.

The sale highlights the material interest in Newcastle hotels; as evidenced by HTL’s recent sales of both Merewether’s Beach Hotel to Glenn Piper’s Meridian outfit, the Caves Beach Hotel to the active Oscar’s Hotels – owned by brothers Bill and Mario Gravanis and the Beauford Hotel only last month to local AHA delegate Nick Clark.

“We have seen a surge in interest in Newcastle Hotel opportunities in recent times as the city continues to undergo its renaissance spearheaded by Iris Capital’s East End precinct amongst a myriad of other private development and infrastructure projects. We are in the concluding stages of two other off market campaigns and expect to announce further high profile transactions shortly” commented HTL Property National Director, Dan Dragicevich.

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