The stoic Commonwealth Hotel and opportunity are for sale, in Newcastle’s booming suburb of Cooks Hill.
Affectionately known as “The Commy” the pub is situated in the popular Cooks Hill entertainment precinct of East Newcastle, just a block off major thoroughfare King Street.
It is the closest pub to the National Sports Ground, and central to Newcastle’s ongoing construction boom, seen in several adjacent large scale development projects.
Presenting a traditional pub model, it is billed as an easy to operate public bar, without entertainment, but with gaming counting 21 machines (Band 1), and 24-hour licence. Upstairs are ten guest rooms – four equipped with ensuites.
Separately, the same vendor is selling an adjacent terrace house, which already boasts in-situ licensing and council approval for an expanded operation.
Offering both assets is Stuart Smith, who previously owned Hamilton’s Exchange Hotel, which he sold to Lantern Group. Smith’s partner is Cath Antaw. They have owned and operated The Commy since 2014, and having recently bought another pub, at Taralba, are selling to focus on that.
The sale represents the first Newcastle freehold offered in 2022, and the first blue chip Newcastle pub selling publicly in more than two years.
Interest is anticipated from a wide group of buyers, and given the rare nature of the opportunity no sale price has been suggested.
It is being marketed by HTL Property’s Blake Edwards and Daniel Dragicevich, who note it is a balanced performer.
“It’s a charming, classic pub, with well-rounded revenue streams, not overly reliant on any one source of income for profitability,” offers Edwards.
The freehold going concern of the Commonwealth Hotel Cooks Hill is being sold via Expressions of Interest, closing Friday, 11 March.
