The pub will reopen on Friday, March 6, at 5pm, with free drinks.

"Our front of house staff will be the same friendly faces that customers are use to seeing and from 5pm your first drink will be on the house," a Zenith statement says. "We are looking forward to seeing as many locals and regulars as possible to find out what they love about the place, things they would love to see added or changed about the hotel with the best views in Newcastle."

The family-run Zenith Hotel Group is headed by long-time Sydney publican Andrew Lazarus. The group operates five other venues, including the Shoal Bay Country Club, the Exchange Hotel in Hamilton, Eastern Hotel in Bondi Junction, Lone Pine Tavern in Rooty Hill and El Toro Motor Inn at Warwick Farm.

Peter Lazarus, who will live on the premises at the Beaches, said, "We are so thankful to the Bale and the Twohill families for creating the venue that our family is taking over and hope to continue that legacy for many years to come."

The Beach Hotel site on the corner of Frederick and Ridge streets has been a pub location for about 140 years. The art deco appearance took hold after a new building was erected there in 1946.

While the new owners are keen for local input into any renovations or changes they may make, they have already announced a new menu and drinks list will start from March 30.

The venue will continue to offer live music.

"If you don't listen to your customers, you're going to go wrong," Lazarus said in a recent interview. "Taking on feedback, what locals think, is a hugely important part of our business."

He said the family company prides itself on strong customer service, and welcomes the competitive environment in the local scene.

"It just means you constantly strive to up your game and have ways of staying ahead of the competition," he said.