NSW hotelier Phil Bernie purchases Settlers Tavern

The Settlers Tavern in Gosford has been snapped up by NSW hotelier Phil Bernie for $2.41 million.

Located at 57 Central Coast Highway in Gosford, the the two level hotel features two bars, indoor and outdoor gaming areas, a TAB, commercial kitchen and bistro, as well as office and storage space.

The hotel is part of the Settlers Complex which includes a service station, Hungry Jacks, Red Rooster, proposed convenience store, and on-site parking.

The 5,021 square metre property sold at auction through Daniel Dragiceviech of CBRE, in conjunction with Manenti Quinland & Associates. The vendor was the former head of the Australian Hotels Associate Bob Bourne, who previously owned and operated the hotel for 30 years. 

According to RP Data records, 3/57 Central Coast Highway last sold in 1998 for $1.32 million, 6/57 Central Coast Highway last sold in 2002 for $850,000, and 10/57 Central Coast Highway last sold in 2012 for $400,000.

In total, the property last sold for $2.57 million prior to this sale.

Dragicevich noted that the sale represented increased activity in the NSW pub market.

“The current low interest rate environment continues to make hotel investment more attractive, with this sale just one in a string of recent pub transactions across NSW,” Dragicevich said.

The purchase of Settlers Tavern adds to Bernie’s hotel portfolio, which includes the Swansea Hotel and Mayfield Hotel in Newcastle.