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Andrew Lazarus has spent the better part of three decades buying, flipping, operating and selling major project properties in Australia. He is well-known for his real estate work and hotelier status in the Sydney and Newcastle areas. His charity work is also something that has put him on the map.
“I want to do what I can to help develop Sydney, Newcastle and the Central Coast areas,” he says. “I have had a lot of success in restoring beautiful structures in these areas. Our charity work has also been really important to me—giving back wherever we can. It’s certainly been a challenge, but I think we’ve learned a lot along the way.”
Andrew Lazarus Encourages Research and Property Insight
The major deals done by Andrew Lazarus often include some kind of renovation to help increase revenue and reach. This hasn’t always been a smooth process. “There have been some properties that really surprised me,” he admits. “I thought they were going to do better with certain changes, and I didn’t realize that people really wanted those things to stay the same. It opened my eyes to how easy it is to assume your vision is going to be appreciated.”
He recommends investors take note of the property’s use and regular customers before making any changes if they want the most out of their investment. “I learned that jumping in and trying to improve right off the bat can create a lot of complicated issues you hadn’t considered,” he says. “With The Beaches Hotel, for example, we decided to hold off on making any changes for the first 12 months. We spent that time researching the individual location’s business and customers. We wanted to make sure we gave the locals and visitors exactly what they were looking for. It isn’t enough to just own the property for a few years; you have to put in the work to talk to the staff, managers and locals, getting their thoughts on the property use, appearance and amenities.”
He explains that it’s easy to get caught up in the excitement and only see a project from one perspective. As any good businessman, he’s been willing to take on a new approach that better fits the needs of his company. “You have to be willing to change,” he says. “You have to be able to look at your past path and admit where you could have been better. That is the only way to become successful. This business takes a lot of gut instinct mixed with intensive research.”
Major Real Estate Deals from Andrew Lazarus
There have been many major projects and real estate deals handled by Andrew Lazarus and his company, Eastern Hotels Group. Some of the most notable, recent deals include:
Exchange Hotel – Located in Hamilton, the Exchange Hotel was purchased in 2016 and renovated in 2020 for $6 million to make it a premier live music space.
Vaucluse Home – The Lazarus family owned the Vaucluse Home for 20 years before selling it off-market in 2018 for an impressive $8 million.
Macquarie Hotel – Purchased in 2015 for $25 million while undergoing renovations, the Macquarie Hotel in Liverpool is a top gaming pub in the area. It was previously held by JDA Hotels for 30 years.
Shoal Bay Country Club – In 2016, Lazarus purchased the Shoal Bay’s Country Club and made significant renovations for $6 million in 2018 to make it a more family-friendly place.
The Beaches Hotel – Wanting to keep the iconic Newcastle hotel true-to-nature, Lazarus purchased The Beaches in 2019 and in the process of creating plans to update the structural integrity of the building for $3 million.
Continuing the Lazarus Real Estate Legacy
To keep moving forward in his real estate legacy, Andrew Lazarus isn’t slowing down. His sights have turned towards the Newcastle and Central Coast areas. Despite the interruption of a global pandemic, he is working to get renovations approved for The Beaches in order to improve its stability. He says he is also working to take a more hands-on role with his charity work. He wants to continue making a positive impact on local business with every venture, real estate renovation and community event he manages.