HIRD LISTS COVETED HOTEL DELANY

In On the Market by Clyde Mooney

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Newcastle’s future Best Pub has finally come to market, as its overseas owner succumbs to pressure to sell.

Hotel Delany was built in 1924 in the Inter-War Georgian style, and sits in the middle of Newcastle’s eat street precinct, between the rapidly redeveloping city centre and the massive new $750m East End project, expecting 5,000 new residents.

The elegant two-storey pub holds a late-trading licence, bistro serving ‘international cuisine’ and gaming room with 22 EGMs.

Its 1,684sqm site is zoned B4 mixed, with a favourable 14-metre height limit and 2:1 FSR offering major future redevelopment potential.

The vendor is long-time owner Gary Hird, who spends most of the year living in Thailand, with the hotel run under management, supervised by his son Anthony.

After years of unsolicited offers, Hird, now in his 70s, has determined it is time to let go of the pub, enlisting CBRE Hotels’ Ben McDonald and Daniel Dragicevich, in conjunction with local Deane Moore of Moore & Moore Real Estate.

Arguably one of Newcastle’s most coveted venues, the agents report interest from buyer clients for years prior to this campaign.

“The Hotel Delany has long been one of the most asked about pubs in Newcastle, and we have no doubt there will be significant interest from hoteliers around the state – especially the parochial local set of Novocastrian operators – but also mixed-use developers and commercial property investors,” mused McDonald.

Amid continued growth in interest in big Newcastle and Central Coast pubs, such as Stephen Hunt’s $8.5m acquisition of the thriving Duke of Wellington, and Andrew Lazarus’ purchase of Lantern’s Exchange Hotel at Hamilton, “passionate Novocastrian” Deane Moore says the sky’s the limit for the Delany.

“The venue holds a special place in the hearts and minds of all locals,” he explains. “And even though the Hirds have steered it well during their tenure, I look forward to what new lease of life the next operator can breathe into the operation.”

The freehold going concern of Hotel Delany is being offered via Expressions of Interest, closing Thursday 7 December.

Hotel Delany