Eatons Hotel in Muswellbrook has been sold by the Ryan family to an associate of Marcello Colosimo, with operations destined for the Momento portfolio.
Eatons is positioned on almost an acre of land (3,490sqm) on the major arterial road through the Upper Hunter region, around 130 kilometres north-west of Newcastle. The area is known for its tourism and wineries, but also as one of the major centres for coal mining in the state and the main centre for power generation in NSW.
A well-presented regional pub, it provides public bar, commercial kitchen and large dining space for families, beer garden, gaming with 12 machines, 15 accommodation rooms and a four-bedroom manager’s residence.
The Ryan family have been hard-working custodians of the popular Muswellbrook local for 17 years.
Sales literature reported consistent trade north of $55k per week, coming mostly from the bistro (39 per cent) and bar (37 per cent), with significant growth in FY21.
While rumours have emerged the freehold going concern had been purchased by Sydney hotelier Marcello Colosimo, the man himself says he was acting as an advisor for a private buyer, but that Momento Hospitality will be involved.
“We will run it for them. I love the area,” he says.
The Colosimo collection counts pubs in Bella Vista, Castle Hill, Macquarie Park and Rouse Hill, and although Eatons is a little outside their regular stomping ground, they previously built and ran Potters Brewery in Cessnock.
Stepping down, the Ryans thank “the Muswellbrook & Upper Hunter community for their ongoing support and patronage” and gave special mention to the Muswellbrook Rugby team as “the most overachieving club in the Newcastle and Hunter Rugby comp”.
“Also, our staff past and present, we couldn’t have run a hotel of this scale without a great team behind us.”
The sale transaction was managed by JLL Hotels’ Kate MacDonald in conjunction with Deane Moore of Moore & Moore Real Estate, posting an early result.
“It is a testament to the quality of the asset when an agreement is reached between parties some two weeks prior to the EOI close date,” said MacDonald.
