![NEW OWNERS: The Newcastle Beach Hotel has been sold for the second time in six years. NEW OWNERS: The Newcastle Beach Hotel has been sold for the second time in six years.](/images/transform/v1/crop/frm/H9AemfQ3cDaTrBwqEFxwv/1cfa5c14-fce8-4338-9be3-0b23075e2881.jpg/r0_0_1017_678_w1200_h678_fmax.jpg)
The Newcastle Beach Hotel's new owners have grand plans to turn the three-star hotel into a modern city icon.
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Sydney-based real estate group WINIM bought the Alloggio-operated premises at 21 Parnell Place, Newcastle East for $13.75 million just before New Year.
It had previously sold for $6.62 million six years ago to a local private consortium.
The property marked the group's second Newcastle asset, having also secured MEET at 9 Darby Street several years ago.
"We have been interested in Newcastle for several years and were attracted to this site for a number of reasons, almost too many to list," WINIM managing director Justin Kuiters said.
"The plan is to retain and refurbish the accommodation component but also integrate some additional uses that will complement and enhance the hotel upgrade.
"This will be more than just a cosmetic renovation project.
"We aim to convert the building into a truly iconic destination for Newcastle that will appeal to local residents and visitors alike."
![PICTURESQUE: The site of the Newcastle Beach Hotel (highlighted) in Newcastle East. PICTURESQUE: The site of the Newcastle Beach Hotel (highlighted) in Newcastle East.](/images/transform/v1/crop/frm/H9AemfQ3cDaTrBwqEFxwv/64c3021e-4876-4c4f-935a-cda8e30c00ee.jpg/r0_281_5500_3385_w1200_h678_fmax.jpg)
Just 100m from Newcastle Beach and Newcastle Ocean Baths, the 1106 square metre property occupies an piece of real estate.
The five-level building takes in 47 hotel rooms, three function rooms, a commercial kitchen, restaurant, a three-bedroom rooftop residence and parking.
It also has development application approval to be transformed into a residential apartment building.
WINIM development manager Jessica Duce said while the property had much to boast about, there was also plenty of room for improvement.
"We saw this as a unique opportunity to breathe new life into a beautiful historic area of Newcastle offering more amenity for locals," she said.
"It's going to take some strategic design interventions, but when complete there will be nothing else quite like it in the area."
![Plans to transform Newcastle Beach Hotel into 'icon' Plans to transform Newcastle Beach Hotel into 'icon'](/images/transform/v1/crop/frm/H9AemfQ3cDaTrBwqEFxwv/4ee9617f-5727-4970-875f-61465b44835e.jpg/r0_0_573_678_w1200_h678_fmax.jpg)
The property attracted more than 200 enquiries, which Colliers Newcastle's Michael Chapman said was "incredibly strong for any commercial property in Newcastle".
It received six offers at the close of the first round of expressions of interest before selling for more than double its previous sale price.
"Commercial property in Newcastle over the past five or six years has doubled in most cases ... there's been incredible growth across a range of asset classes," Mr Chapman said.
"We were thrilled to be involved in the sale of this iconic hotel and are privileged to have the pleasure of working with WINIM."
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