Darlinghurst stalwart the Flinders Hotel is for sale, wielding plans for expansion in the revived city-fringe precinct.
Set on a 599sqm corner of eponymous Flinders Street near Moore Park, the heritage-listed Hotel comprises three storeys plus basement, zoned B4 Mixed-Use, with triple street frontage.
It was a raging part of the Oxford Street party scene and a popular gay bar, until the early naughties. Later, in 2015, it fell victim to Sydney’s crippling lockout laws.
But in late 2016 it was sold for around $2.5 million, reopening under new operators as an entertainment venue.
“We’re not really targeting the gay community and decided against reviving the place for live music … heading more toward DJs playing hip-hop and R&B and attracting lots of good-looking young women – and men,” licensee Vin Petrinovic told PubTIC.
The pub continues to hold regular party events on Friday and Saturday nights.
It also holds plans for a new rooftop terrace, offering panoramic views of the city and adding a further 179sqm of trading area, with another bar.
The property is an asset of Consolidated Assets Management, owned by Brisbane GP Malcolm Nyst and his partner.
It comes to market soon after the recent and sudden closure of another institution of Flinders Street, the original Local Taphouse, and sale of LGBTQ+ icon, the Imperial Hotel of Erskineville to Universal Hotels.
“This landmark hotel is a rare opportunity to acquire a prominent freehold property situated within the highly sought after inner-city suburb,” offers Ray White Commercial’s Dean Haustead, marketing the property.
The Flinders Hotel is being sold as a freehold going concern, under a short-term lease. Sources suggest the property is likely to fetch circa $7 million.
