Peppers Corlette hotel on the market

A landmark Port Stephens hotel could change hands after Peppers Anchorage Hotel at Corlette was placed on the market.

Vendor CBRE Hotels announced the Nelson Bay hotel's listing yesterday after long-time owner Bay Holdings Pty Ltd opted to sell the multimillion-dollar waterfront property.

The 80-suite hotel and restaurant will be listed separately from the adjoining 90-berth marina, which CBRE Hotels said would be offered for sale through vendor Knight Frank.

A statement from CBRE Hotels said Peppers Anchorage maintained a mix of corporate and regular clients, as well as a burgeoning conference and wedding business.

Vendor Rob Cross said Port Stephens' vibrant tourism industry was expected to arouse interest in Peppers, which has approval for another 10 guest rooms.

It is also approved to add conference rooms and car parking.

Its shorefront site and unusual design would be selling points, Mr Cross said.

"It is the premier property up there without a doubt," he said.

"You don't get many hospitality assets sitting right on the coast like that."

Owner-occupiers, hotel operators and investors have been cited as potential buyers. The property will be sold with vacant possession.

Source: The Newcastle Herald, 13 July 2012