East Maitland's Windsor Castle Hotel has sold off-market for an inland regional record $51 million.
The new owners are Sydney-based Harvest Hotels, who run seven other venues across Albury, Wagga Wagga, Dubbo, the Central Coast and Tamworth.
Windsor Castle had been owned by Sean O'Hara and Nick Quinn, who paid an undisclosed sum for it in 2015.
The venue generates more than $4 million in earnings (before interest, taxes, depreciation and amortisation) annually and has 30 gaming machine entitlements.
"We've been exploring prospects in the Hunter Valley for a long time now, and Maitland comfortably met our location and pub selection criteria," said Harvest Hotels director Chris Cornforth.
"We look forward to adding our own Harvest touches to what is already an outstanding operation and iconic pub."
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The sale price tops the $33 million paid in April for Mount Hutton's Lake Macquarie Tavern, which also has 30 gaming machine entitlements, and the $30 million-plus paid for the Merewether Beach Hotel.
It also easily trumped the $29 million paid for Wagga Wagga's Victoria Hotel, which was the previous inland regional record holder.
JLL Hotels' Ben McDonald, who brokered the sale with Kate MacDonald, labelled Windsor Castle "undoubtedly one of NSW's finest pubs".
"Our vendors have done an outstanding job in building a significant business and we are proud to have generated this market leading transaction," he said.
"This transaction highlights the market's willingness to pursue assets underpinned by robust trading fundamentals in key growth locations."
The two-storey venue dates back to the 1920s and boasts a drive-through bottle shop, 14 accommodation rooms, parking and room for more than 250 patrons.
It occupies a 6613 square metre block on the corner of Lawes and George streets.
