The Strand Hotel in Darlinghurst goes up for sale

The Strand Hotel in Sydney’s Darlinghurst has been put on the market by Oscars Hotels as they focus on recent acquisitions.

Owned by Bill and Mario Gravanis, Oscars Hotels operates 26 venues, including food and beverage outlets, gaming and accommodation, in addition to retail, conferencing and chartered vessels.

The brothers have recently bought the Botany Bay Hotel, Feros’ big Rocksia Hotel, Redcape’s Livingstone Hotel, as well as the Cringila Hotel in Wollongong.

The four-level Strand Hotel features a 24-hour liquor licence, gaming room with 20 machines and 3-hour weekend shutdown, and 23 accommodations rooms set up to provide 87 beds.

HTL Property’s Dan Dragicevich, Sam Handy and Andrew Jolliffe are marketing the sale.

“The Strand is a very rare city fringe freehold exhibiting all the key fundamentals astute purchasers search for in hotel opportunities – arterial, corner junction positioning, late-trading flexibility, as well as substantial accommodation and gaming inventory,” said Dragicevich.

The Strand Hotel is for sale via a national Expressions of Interest campaign, closing Thursday, 11 April.

Sheridan Randall, 22^nd March 2019