“The current management are going to stay, and I have given them a brief to re-engage with the local community, to provide the product they are after.”Īlready in mind beyond redecorating is another instalment of the successful GoodTime Burgers concept in The Eastern. It’s super important to know your local community. “I certainly plan to refurbish and relaunch it, after we’ve done a bit more research on the target market. “I was pleasantly surprised how progressive hotels in Hamilton and Newcastle are, and it became evident the Beaumont had fallen behind … it had not had a refurb for 10 years,” says Lazarus. The Hamilton hotel represents a market “a bit unfamiliar” to the Sydney hotelier, but he reports he is excited to make the expansion and has begun determining what the community want from the pub. BAM kicked off at the beginning of the year with the acquisition of Lazarus’ Vauxhall Hotel.Īlthough the Exchange is firstly Lazarus’ own acquisition, he reports either it or his other purchase from Lantern, the El Toro in Warwick Farm, may become the next asset in the BAM portfolio. Lazarus currently operates prominent Sydney pubs The Eastern in Bondi and top gamer the Macquarie Hotel in Liverpool, and is the face of new pub fund, Bondi Asset Management (BAM). “I had no real interest in a hotel in Newcastle, but I looked at the opportunity and within a couple of days went up, had a look, and put in a bid.” “It represents great value,” Lazarus told PubTIC of the $6.625 million sale price.
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