ONE of Stockton's historic pubs is on the hunt for a new owner for the first time in more than 30 years.
The Gladstone Hotel is set to hit the market this week via an expressions of interest campaign with Dowling Commercial's David Rogers.
A price guide is expected to be available in the coming week.
"It is being sold freehold with further development potential or even sub-division potential," Mr Rogers said.
"It certainly has good upside if the services that are currently there are run to their full potential.
"This offers something for everyone, whether it be an owner-occupier, a developer or an investor."
There are no poker machines included in the sale.
For the past three decades, the Gladstone Hotel has operated under the ownership of the Keegan family who hold a long history of owning pubs in the region, according to Mr Rogers.
The property at 36 Mitchell Street is positioned on a 1,113 square metre corner block within walking distance of the Stockton ferry terminal.
The heritage-listed hotel was originally built and licensed in 1887 as the Lookout Hotel before it was leased to Tooth & Co two years later.
It was purchased outright in 1936 and the original building was demolished to make way for a new hotel designed by prominent Newcastle architects, Pitt & Merewether, who also worked on The Boatrowers Hotel in Stockton and The Burwood Inn in Merewether.
The pub reopened as The Gladstone Hotel in 1937.
The hotel has undergone multiple extensions over the years but the interior retains its heritage significance throughout.
The building's art deco architecture includes ornamental brick detailing and arch windows, sash windows, ornate light fixtures, leadlight windows and original timber flooring.
Internal areas include a saloon bar, public bar, lounge and dining extension, designated pool table area, and in-house Thai restaurant.
"There is an enormous opportunity to improve trade with renewed energy and ideas along with a freshen up downstairs and upstairs," the agent said.
"Trading hours, the restaurant and beer garden are well underutilised."
Upstairs has nine accommodation rooms, two bathrooms and a self-contained apartment.
Outside has an L-shaped yard and a large concreted courtyard with a secure double-car garage utilised for storage and off-street parking.
"Alternatively, pending council approval, this entire outdoor space could undergo redevelopment to transform it into residential apartments," the agent said.
It is the second pub to hit the market in the Hunter region this month after The Railway Hotel in Muswellbrook was listed for sale with HTL Property last week.
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