The Keystone Group purchased the pub in 2010 and undertook extensive renovations to restore it to its original state. Under the group's management, The Newtown Hotel has returned to its former glory as one of the suburb's landmark pubs.
“We are pleased to confirm the sale of The Newtown Hotel to Colonial Leisure Group. It has been a very successful venue for us, and we know it will continue to trade strongly in an exciting suburb", John Duncan, Managing Director of The Keystone Group said.
According to the group, conversations with Colonial Leisure Group about the sale began in December last year. Despite not actively looking for buyers at the time, Keystone Group told media that the offer prompted it to "take advantage of favourable market conditions."
Duncan added that the sale will allow the group to continue to focus on building and expanding its core brands across its bar and restaurant portfolio.
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