The pub property market is continuing its hot streak after Ashton Waugh and Ben Lawler bought the Commonwealth Hotel in Newcastle, in a deal brokered by HTL Property’s Dan Dragicevich and Blake Edwards.
“Our client’s Stew Smith and Cath Antaw have done an incredible job over the past 6 years, transforming the Commonwealth Hotel into the successful operation that it is today,” advised HTL Property Director, Edwards.
Separately, HTL are currently finalising a deal for another Newcastle pub in the form of the Lambton Park Hotel, and expect continued investment interest in coastal markets in 2023; especially growth cities such as Newcastle.
“Newcastle, like other strong metro and sub-metro centres around Australia, represents a real magnet for investor interest in an asset class which has performed at a clear premium to most others over the past few years,” added HTL Property National Director, Dragicevich.