Andrew Lazarus Selling His Iconic Beach Hotel In Newcastle

Luke Lazarus and his father, Andrew Lazarus, sold their Beach Hotel in Newcastle.

The property is reported to have been sold for about 40 million dollars.

Andrew Lazarus had owned the property for a couple of years, having bought it in 2019 from the owners John Twohill and Jim Bale.

Lazarus ensured an increase in the property’s value in a short period by making a few changes and completing a DA application.

Read more: Newcastle Council staff assists in refurbishing Andrew Lazarus beach hotel in Merewether | Newcastle Herald

The Beach Hotel was also sold at a high price because the pub market in the area was growing.

Recent property sales have occurred around the same region, such as Pub at Rivo, Vineyard Hotel, and The Carousel Inn.

Andrew claims that many buyers are in that scorching market.

Andrew points out that the rise in the interest in the local hotels and pubs is because of the growth in population in those coastal towns.

Moreover, he adds that individuals have no problem spending because the corona pandemic has become less prevalent.

The locals refer to the Newcastle’s Beach Hotel as the Beaches.

It is a long-standing hotel that locals and guests adore.

The Beach Hotel in Newcastle is located on the beach in Merewether and is the only beachside pub in Newcastle.

The hotel contains a gaming room, three separate places for private events, and a lounge.

Moreover, the hotel has outstanding scenery because of its two-story property.

The path to success for Andrew was not always easy, and location may have contributed to that.

Andrew Lazarus experienced things the hard way in his experience with another of his properties in Sydney called Exchange Hotel.

He shares that he made a mistake with that hotel and suffered the consequences.

When selling the Beach Hotel, Andrew Lazarus stepped away from ownership and passed on his detailed renovation plans.

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