Matt Coleman and co have furthered the stable of strong regional operations with purchase of Hotel Cessnock, in the Hunter Valley.
Built 1908, the pub is a grand country hotel in a prominent central site in Cessnock, close to the famed vineyards of the Hunter’s wine country.
The large-format pub provides a public bar with TAB, lounge bar, commercial kitchen and bistro with courtyard, beer garden and children’s play area, gaming room with 12 machines, 17 accommodation rooms and verandas upstairs plus a two-bedroom manager’s residence, and onsite parking.
The Hotel also holds a licence to trade until 3am Monday to Saturday, which is underutilised.
Marketing literature notes the gaming operation possesses TITO and a smoking solution, but would benefit from an upgrade.
Quietly listed for sale, Matt Coleman swiftly purchased the business off-market, picking up a 20-year lease with 13 years remaining, with annual CPI rental increases.
Coleman is one third of GDM Hotels, alongside Dylan Davie and George Wright.
The group already runs the Metropolition and Tattersall’s hotels at West Wyalong, Armidale’s Imperial Hotel, bought late 2021, the Boatrowers Hotel in Stockton, acquired last year, and the Post Office Hotel in Forbes, which was a sale and leaseback.
Set in the famous Hunter Valley region, Cessnock is 50 kilometres west of Newcastle, or 150 north of Sydney, and renowned for its gourmet food and wine production.
The operation was snapped up prior to going public in a sale through Manenti Quinlan’s Leonard Bongiovanni in conjunction with Deane Moore of Moore & Moore Real Estate. The agents would not disclose the sale price, but note the well-patronised pub benefits from the extensive entertainment program in the vineyards.
“The sale of the Hotel Cessnock Leasehold provides an outstanding opportunity to purchase an excellent lease in a desirable Hunter Valley location with potential to improve trade across all departments,” says Bongiovanni.
