By Clyde Mooney – editor Australian Hotelier

Newcastle's Exchange Hotel has hit the market, in a further indication of the previously troubled area’s resurgence.

The multi-level Exchange Hotel, on bustling Beaumont Street, has been a strong performer and favourite watering hole for Novocastrians for decades.

The freehold will go to auction in August, sporting impressive trading potential including an already approved DA for the balcony. [continues below]

It is being marketed through Ray White Hotels in conjunction with local broker Deane Moore, of Moore & Moore Real Estate – who similarly helped secure the sale of another popular hotel in the area on Wednesday (as revealed in TheShout's Pub Sales newsletter).

"The Exchange Hotel is a piece of Newcastle's history, a piece of prime commercial property on one of the region's most sought after commercial and retail property strips, and is underpinned by a set of weekly revenue numbers unmatched by many hotels in NSW," said Ray White Asia-Pacific director of hotels, Andrew Jolliffe.

Moore, whose office is also on Beaumont Street, said the venue offers a balanced trade and is not reliant on one section of the community, as is often the case with regional venues.

"On any given day, the patronage at The Exchange is a quality mix of local residents, white collar professionals and visitors to Beaumont St looking for a premium offering," she said.

The timely listing of the Exchange and the pre-auction sale of Hamilton’s Sydney Junction Hotel are both demonstrative of an area that is recovering from a period blighted with negative publicity due to alcohol-related incidents, which resulted in punitive restrictions on venues.

The recovery bodes well for Sydney venues similarly burdened with lockout restrictions.

NOTE: The Sydney CBD and Kings Cross restrictions are currently under review by the Office of Liquor, Gaming & Racing. Click here to see how to be part of the review process.

For further information about the Exchange Hotel and other pubs on the market, visit TheShout’s dedicated Pub Sales page, or subscribe to the newsletter.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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