Newcastle market continues to froth as Bennett Hotel changes hands after thirty years
It has been more than three decades since The Bennett Hotel in Newcastle suburb Hamilton changed hands after being sold off-market by the McCoy family.
Dean Moore, of Moore and Moore Real Estate, brokered the sale to the Turner family, who formerly owned the Lambton Park Hotel and are originally from Sydney.
“The family have agonised over this decision for a long time but feel that not only is the timing right, but that the new owners, also a family group, will carry on their legacy” Moore said. The purchasers are set to take ownership of the pub in January.
The latest sale follows a string of sales in Newcastle including Sydney-based Iris Capital splashing out $30 million for three hotels to add to their portfolio.
Sheridan Randall, 20th December 2018
