Offers are expected north of $25 million for one of Newcastle's best-known hotels.
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The Kent Hotel on Beaumont Street in Hamilton has been listed for sale through an expressions of interest campaign and HTL Property's national pubs director Dan Dragicevich expected the prominent property to attract local and state-wide buyers.
"It's probably recognised, at least from a publican set in the market, as one of the pre-eminent pubs in Newcastle," Mr Dragicevich said.
"Hamilton is quite an active hospitality precinct and this is right in the middle of Beaumont Street.
"We do expect there to be some pretty parochial locals having a crack at it because of what it is and where it is. There's a lot of metro buyers already in Newcastle and the Central Coast that we expect to have a look as well."
The establishment at 59-61 Beaumont Street has been owned by father and son Peter and Stephen Hunt since 2002.
Mr Dragicevich said several big-name Sydney publicans were increasingly looking in the Newcastle and Central Coast market and the combination of the election result with the Reserve Bank's decision to cut interest rates to a record low had given rise to increased hotel sales activity in the region.
"In the last 11 months, HTL Property has sold five Newcastle region freehold hotels for a combined $60.5 million, representing significant investment as well as clear business confidence in the area," he said.
"These were highlighted by the sale of the Shaft Tavern in Elermore Vale to Sam Arnaout's Iris Capital for $11.75 million, and the Elanora Hotel [in Gosford] sale to John Singleton's investment arm Bonython for $23 million".
They also included sales of the Salamander Bay Tavern and Rutherford Hotel in Maitland.
The Kent was established in 1924. It has a commanding corner site and generates annual revenues in excess of $8.3 million.
HTL Property are also marketing the Beauford Hotel in Mayfield. The hotel at 39 Maitland Road has been listed for sale for the first time in over 30 years and is expected to attract interest around $5.5 million.
Both hotels are being sold through expressions of interest closing July 4.
