Hunt Hospitality secures another Newcastle pub, The Duke of Wellington
The Hunt Hospitality group has added Newcastle’s Duke of Wellington hotel to its growing portfolio of Hunter region properties in a deal valued at around $8.5 million.
The Hunt family are long time hoteliers who currently own the Kent and CBD Hotels in Newcastle.
The Duke of Wellington has been added to their portfolio by way of private sector syndication – in a similar fashion to Maitland’s The Rutherford Hotel, which was acquired earlier this year.
CBRE Hotels negotiated the sale in conjunction with Knight Frank.
The Duke of Wellington is situated in the Newcastle suburb of New Lambton. Established in 1932 and known by locals as The Duke, the hotel is regarded as one of Newcastle's premier hospitality venues.
CBRE National Director Daniel Dragicevich said the sale price and yield achieved reflected the strong appetite for non-metro hotel assets, given the limited availability of quality Sydney stock.
