The Cricketers Arms Hotel in Cooks Hill, Newcastle, has sold off-market for more than $10 million to a syndicate led by Ashton Waugh, Ben Lawler and Ryan Haynes, the same group that bought the nearby Commonwealth Hotel in 2023.
The deal gives the syndicate two pubs within a few hundred metres of each other in one of Newcastle's busiest dining and drinking streets. It is a clear example of an operator building a local cluster in a market it knows well.
The deal at a glance
- Asset: Cricketers Arms Hotel, 61 Bruce Street, Cooks Hill (corner of Bull Street)
- Price: understood to be more than $10 million
- Site: about 933 sqm
- Offering: bar, bistro, gaming room and beer garden
- Gaming: 11 electronic gaming machines
- Buyers: Ashton Waugh and Ben Lawler, in a syndicate with Ryan Haynes
- Sellers: John and Lynette Hayes, operators since 2006
- Agent: Blake Edwards, HTL Property
- Process: private, off-market sale
An off-market deal before a campaign started
The Cricketers Arms never went to a public campaign. The buyers heard it was being quietly offered and approached the owners directly. For sellers, an off-market deal can mean a faster, quieter sale with less disruption to staff and regulars. For buyers, it means securing an asset before competing bidders get involved.
John and Lynette Hayes had run the hotel since 2006, nearly two decades. Long-held, owner-operated pubs like this rarely change hands, which is one reason motivated buyers move quickly when one becomes available.
Building a Cooks Hill cluster
The buyers are well-known names in Newcastle hospitality. Lawler and Haynes co-own Local Hospitality Group, and Waugh holds his pub interests through Watering Hole Group. In 2023, Waugh and Lawler bought the Commonwealth Hotel, a few hundred metres away in Cooks Hill, reportedly for around $25 million. That pub has 21 gaming machines and 10 unrenovated accommodation suites upstairs.
Owning two venues so close together has real advantages:
- Shared management: staff, suppliers and know-how across both sites
- Different offers: the venues can target different crowds rather than compete with each other
- Local knowledge: the operators already understand the customers, the council and the precinct
- Buying power: scale with suppliers, entertainment and marketing
Why Cooks Hill
Cooks Hill sits on the edge of Newcastle's CBD and is known for Darby Street's cafés, restaurants and bars. Its mix of heritage terraces, inner-city apartments and steady visitor traffic makes it one of the city's strongest hospitality precincts.
Newcastle itself has changed a lot over the past decade. CBD renewal, light rail, foreshore development and new apartment supply have brought more people into the inner city. All of that supports trade for well-located pubs.
Pubs are trading hard right now
The Cricketers Arms is one of many hotel and pub deals around the country this month. Syndicates, private operators and pub groups are buying in Sydney, Toowoomba, Adelaide, Hobart and Canberra. Buyers are especially interested in venues with several income streams (food, beverage, gaming and accommodation) and freehold land underneath.
What it means for owners and operators
- Off-market works for the right asset. A well-known pub can attract a strong buyer without a public campaign.
- Clusters create value. Operators who know a precinct will often pay well to expand nearby.
- Several income streams count. Bistro, bar, gaming and outdoor areas all add to a venue's appeal.
- Present the potential. Even in a quiet sale, clear plans and visuals of upgrade options help buyers see where they can add value.
What to watch next
Watch whether the new owners refurbish the Cricketers Arms or reposition it alongside the Commonwealth, and whether more Newcastle pubs change hands as operators keep consolidating.