Central Coast favourite the Kincumber Hotel has sold for circa $15 million, but remains in local hands by way of Hunter Hotel Group.
Known locally as ‘Kinny Pub’, the Kincumber Hotel has been an institution in the coastal precinct since 1976. For close to a decade it has been in the hands of property industry identity Geordie Clark and his brother-in-law James Henty.
The pair have evolved what was largely a blue-collar pub into a family-friendly venue, overseeing an extensive renovation and repositioning that brought a kids’ play area, new bistro, and facility for live music. Each June its craft beer bar ‘The Hairy Goat’ hosts brewers from all over Australia for the popular Central Coast Craft Beer Festival.
They also subdivided the original block and developed on the parcel. The Hotel’s resulting site is a generous 8,582sqm, in a prime position within the Kincumber retail precinct, producing annual revenues in excess of $6.8 million.
“We are proud of what we have achieved at the Kinny,” says Clark.
“The Hotel has been transformed into a respected community hotel catering to all ages and demographics, and we are happy that the Hunter family will take it on its next journey.”
Paul and Bill Hunter are coastal locals, and have built an enviable portfolio of eight quality pubs at Maitland, Speers Point, Singleton, Waratah, Gateshead and Newcastle, and most recently before Kincumber, the Bateau Bay Hotel, bought from Laundy in 2017.
The off-market sale was through HTL Property’s Dan Dragicevich and Andrew Jolliffe, finding a result in tune with the vendor within three weeks of listing.
“The Kincumber Hotel has always been a highly regarded venue, and the current operation is testament to the hard work put in by both Geordie and James,” says Dragicevich.
“The matching of asset with purchaser profile was seamless, and its rewarding to know that the Hotel is effectively being sold to local hoteliers who will no doubt continue the strong community-based offering.”
“This sale represents the twelfth NSW Coastal sale our firm has managed over the past year, highlighting the significant interest shown in this most dynamic of regional sub-sets,” added Jolliffe, HTL’s Asia Pacific director.
