Renowned Newcastle pub, Finnegan’s Hotel, has exchanged hands.
The Hunter family has sold Finnegan’s Hotel as a freehold going concern to long-time Newcastle publicans, Cath Antaw and Stewart Smith, who also own the Great Northern Hotel in Teralba.
Finnegan’s Hotel was sold off market by HTL Property’s Blake Edwards and Dan Dragicevich, in what was a serendipitous transaction.
“The vendor and the buyer contacted us within a day of each other expressing their eagerness to buy and sell respectively. We immediately introduced the parties and after a very short negotiation, commercial terms were established that both parties were pleased with,” stated Edwards.
The art deco pub is prominently positioned on the intersection of the bustling King and Darby Streets; opposite Newcastle Civic Park and City Hall. The asset also includes 15 GMEs and an adjacent commercial property.
“We are genuinely thrilled that we are going to be the new owner of this great pub. We have thoroughly enjoyed dealing with the Hunter family and look forward to working with them towards settlement,” stated Smith.
Dragicevich stated that after a strong shpwing of sales at the end of last year, the momentum has continued into 2025.
“The market surged at the back end of 2024, and consequently remains strong heading into 2025; hence we are anticipating positive incremental growth in asset price and elevated transaction volumes comparative to recent years.”
Bathurst’s 1880 Hotel sold
In another high visibility regional pub sale, this week the 1880 Hotel in Bathurst has been sold by Greg Brimble to first-time pub owners Jarrod White and Nicole Saxby.
Positioned opposite the Bathurst Council and Civic Centre, and The Bathurst Memorial Entertainment Centre, the 1880 Hotel boasts a fully renovated ground level and a large 1,233sqm footprint in a prime main street location. The property features a public bar, bistro, TAB lounge, a whisky/cocktail bar, and a large undercover rear verandah/beer garden as well as a raised stage for live music. Seating area with a Raised Stage.
The first floor includes disused accommodation rooms and a manager’s residence, offering additional potential for redevelopment. It also has a rare 24-hour licence.
The freehold sale was guided by Leonard Bongiovanni at MQ & Associates, in conjunction with Deane Moore of Moore and Moore Real Estate.
“We’re thrilled to have facilitated this transaction and look forward to seeing the next chapter of this iconic hotel unfold,” stated Bongiovanni.