The Hotel Business by Andrew Lazarus
The iconic pub situated in Newcastle has been under the ownership of the Bale and Twohill families for about four decades.
While talking to Newcastle Herald, Lazarus stated that he was proud to have acquired the pub, which his family has been eyeing for quite some time.
The Lazarus family has owned and controlled hospitality establishments for three decades now.
There are several hotels managed by the Eastern Hotels Group, including but not limited to the Shoal Bay Country Club, The Exchange Hotel, Granville, and Motor Inn.
Peter Lazarus will take charge of the Hotel Merewether after being in charge of the Eastern Hotels Group.
Popularly known as the Newcastle Trophy Asset, the beach hotel was marketed by Deane Moore of Moore Real Estate and Knight Frank`s Mike Whitney.
The popular joint was first opened in 1946, and the locals have appreciated it since then.
The brick building is located at an envious location close to one of the region`s most popular beaches.
The property is expansive, and its verandas make it outstanding due to its openness and give a nice view of Merewether Surf beach located a few minutes from Newcastle`s CBD.
The Andrew Lazarus family contemplated renovating the property but decided to get acquainted with the locals and consult great architects to avoid hasty decisions.
The value of the sale of the 1858 square meters has not yet been disclosed though it had a twenty-million-dollar price expectation.
The owner of the property, John Twohill, has held it for about thirty years says it was difficult parting with the property. John had grown a solid connection to the pub, and he had mixed feelings about the sale.
Lazarus has great expectations of the property, and acquiring it meant adding an exceptional property to his already grown empire.
Under the management of Peter Lazarus, Lazarus expects to reap well from the investment.
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Learn more about Andrew: https://angel.co/u/andrew-lazarus-au