Potts Point's Larmont Hotel building for sale

The Larmont Hotel in Sydney's King Cross has been listed for sale with $55 million hopes.

The 103 room, five-star hotel is ranked seventh in Sydney by TripAdvisor having undergone an extensive $8 million transformation before re-opening its doors in late 2017.

The building last traded for $23.2 million in 2014 when it was sold by 8Hotels group, the boutique hotel group of the Melbourne-based hotelier Paul Fischmann, who had paid $18.2 million in 2013.

It was bought by listed Singapore real estate developer Tee Land, who, along with Lancemore Group hoteliers Jan and Peter Clark, spent $12 million on acquiring the privately held apartments on levels 11 and 12 and turning the 24 units into more rooms.

It became Larmont Sydney by Lancemore, having previously operated as the 76 room Diamant Hotel. Levels seven to 10 are commercial strata offices.

Set behind the King Cross icon the Coca-Cola sign, Larmont has a number of rooms with extensive terraces that look across the city skyline and the harbour.

Rooms start at $215 a night.

Each room is designed by Hassell studio and is fitted with modern furniture, marble bathroom vanities, freestanding baths and rain showers.

They have semi-open bathrooms which allows guests to take in the city views.

It also has an in house restaurant, Hyde.

Gus Moors and Karen Wales are marketing the building, with two retail tenancies also to be listed.

The Larmont is currently ran by the Lancemore Group, a family ran business who are offering a hotel management agreement for the successful buyer.

The Lancemore Group have six hotels across New South Wales, Queensland and Victoria, including Lindenderry on the Mornington Peninsula and Alamanda at Palm Cove near Cairns.