Lambton's Northumberland Hotel has sold for more than $8 million after nearly two decades of ownership by the Duggan family.
The property was sold off market to hotelier Tom Adams in a transaction overseen by HTL Property.
It follows a string of recent pub sales in Newcastle, including Merewether's Beach Hotel, which sold to Sydney hotelier Glenn Piper and a small syndicate including three Novocastrians.
Market sources placed the Northumberland's sale price in the mid-$8 million range.
Longtime owner and former publican Nancy Duggan purchased the Northumberland with late husband Billy Duggan in 2003, relocating from Bondi to run the pub.
"It was just something he [Billy] wanted to do our friends were doing it and he wanted to do it. He said 'We're going to Lambton and we're going to buy a pub'," Mrs Duggan told The Newcastle Herald.
Mr Duggan passed away shortly after the sale, leaving Mrs Duggan to learn the ropes, with the help of daughter Louise.
"I started off with my L plates, learning how to pour a beer, and then upgraded to Ps. A lot of the customers back then still live there and we're all still great friends," she said.
"We've had different customers but we've still got all of our old regulars, they call it their home, their lounge room," she added.
After years of pulling beers and changing kegs, Mrs Duggan leased the property out to new operators in 2021, and had decided that the time was right to part ways with the pub.
She and husband Robert Fernance will use the sale as a chance to "take a breather" before deciding what to do next.
Selling agent Blake Edwards, who worked with HTL colleague Dan Dragicevich on the transaction, said that the Northumberland's dual street frontage and 727 square metre block were among its appeals.
"The Northumberland really does present all of the underlying investment fundamental astute hoteliers identify with, notwithstanding the sites mixed use development potential, and is why the Duggan family have enjoyed such a long prosperous tenure," Mr Edwards said.
