After 45 years, the Twohill and Bale families have finally agreed to sell the prestigious Newcastle hotel known as The Beaches.
While John Twohill conveyed his unhappiness with the sale after running the pub for more than 30 years, he acknowledged that a change was needed.
Andrew Lazarus says he is considering refurbishing but wants to connect with the community and architects prior to making any solid plans.
The iconic pub rests at 99 Fredericks, and the expected price is $20 million-plus.
It occupies prime real estate and stands on a breath-taking coastal view.
Currently, the beach hotel ranges about 1858sqm and holds a beautiful Art Décor style.
The Sydney hotelier Andrew Lazarus family has been in the hospitality industry for more than three decades, and they own and operate several venues.
Their portfolio includes the following assets:
The Exchange Hotel, The Eastern in Bondi Junction, Hamilton, Granville, the Vauxhall Inn, Shoal Bay Country Club, Warwick Farm, and El Toro Hotel & Motel Inn.
Lazarus said they had been thinking about increasing their hotel portfolio.
He adds that the location of the famous hotel appealed to him because of the potential brought about by the beach.
Though the actual sale price is not disclosed, Lazarus is prepared to do all he can to own the pub because his family has been after it for many years.
In October, Deane Moore and Knight marketed the property and reported the pub acquired national interest.
Peter Lazarus, the Director of the Eastern Hotel Group who was instrumental to the Shoal Bay Country Club renovation, will take over the day-to-day management of the hotel.
They plan to begin by improving food and beverage offerings to increase patronage.
However, for the next twelve months, they will see how the hotel runs and what the locals like before making any significant changes or renovations.
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Learn more about Lazarus: https://www.realestate.com.au/news/sydney-hotelier-andrew-lazarus-buys-beach-hotel-merewether/