Iconic Newcastle freehold pub the Commonwealth Hotel, located in Cooks Hills, is being marketed for sale by HTL Property.
Affectionately known as “The Commo”, the pub is located in Newcastle’s premier entertainment precinct; amid a construction boom and the rapidly increasing densities in and around the Newcastle CBD.
The Commo operates with a traditional pub model, has 21 gaming entitlements, a 24 hour liquor licence and 10 first floor accommodation rooms.
The option to purchase an already licenced and DA approved terrace house adjacent to the venue is also available.
“The asset is a charming and classical pub, with well rounded revenue streams; and is not over reliant on any one source of income for profitability,” said HTL Property Director Blake Edwards.
“There separately exists clear upside in purchasing the additional terrace, and activating the DA to incorporate it into the pub operation” Edwards continued. The vendors, Stewart Smith and Cath Antaw, have owned and operated the pub since 2014 and are selling to focus on other endeavours.
“This is the first Newcastle freehold pub for sale in 2022 and the first blue chip Newcastle pub for sale publicly in over two years; so we are expecting strong interest from a wide group of buyers,” said HTL Property National Director, Daniel Dragicevich.
“In addition, market intensity has carried over from last year, evidenced by the four Sydney hotels HTL has already transacted this year.”