Inner-city brewery FogHorn and the CBD Hotel are the latest Newcastle drinking holes to hit the market after a flurry of sales in recent months.
The FogHorn Brewhouse property in King Street includes an on-site craft brewery and the Mavericks sports bar fronting Darby Street.
Part-owner James Garvey is selling the brewery and pub business, of which he is majority shareholder, as a going concern with the bricks-and-mortar building.
The land they sit on is also a potential development site with a five-storey height limit, but Mr Garvey’s partner and celebrated brewer Shawn Sherlock hopes to find a new partner to keep the brewery going.
“Absolutely, I’ve got no desire to be moving on anywhere soon,” Mr Sherlock said. “We’re looking to find someone who can maybe take the business to the next level.”
He said maintaining an on-site brewery was “certainly a big part of what we do, and that’s my model for going forward”.
The pair expanded the FogHorn brand into Erina in 2016, but the venue closed early this year.
Mr Garvey said FogHorn was principally Mr Sherlock’s brand and dream.
“Shawn’s there six days a week working it, and he’s the face of the business,” he said.
“Anyone we’ve spoken to, pretty much, has asked, ‘Can he stay in the business?’ He certainly wants to, and he’s a big part of the business. He’s a great face for Newcastle beer.”
The brewery, which makes beer with distinctive names like Boganaire, Big Ideas Beer and Dads With Prams, is a retail and wholesale operation.
“The business continues to go well, but it needs more director-level time, potentially, or deeper pockets with a longer-term strategy,” Mr Garvey said.
“I think there’s an opportunity for another venue in Newcastle. It’s a good brand, and [someone could] make it Newcastle’s brand.”
The CBD Hotel, with frontage to both Hunter and King streets, is also a potential development site with a 45-metre height limit. It will go to auction on November 29.
Iris Capital, the Sydney developer behind the $700 million EastEnd mall redevelopment, bought the Sydney Junction (Hamilton), Gunyah (Belmont) and Argenton hotels from Campbell and Clare Rogers for $30 million in September.
Iris managing director Sam Arnaout also acquired Peden’s Hotel at Cessnock last month, adding to the firm’s purchase of Hunter vineyards Hungerford Hill, Dalwood and Sweetwater in the past two years.
Father and son Ian and Ty Burford have sold the Burwood Inn to Newcastle solicitor John Palmieri after putting the trendy Merewether pub on the market 18 months ago.
Adam Sherman has sold the nearby Mary Ellen Hotel to Sydney hotel family the Hannons, and Marcus Leavy, who bought the Delany Hotel this year, has added Wallsend’s Lemon Grove Hotel to his Marvan Hotels stable.