Oxford Hotel sells for circa $34 million
Sydney's iconic Oxford Hotel has sold for $34 million, following the hotel's earlier $4 million renovation.
The property, 195 Victoria Road in Drummoyne, sold through CBRE Hotels national director Daniel Dragicevich and JLL national director John Musca on behalf of Iris Capital.
It marks the second largest gaming transaction in Australia this year, one of inner west Sydney’s most popular venues, having recently undergone a $4 million revamp.
Owned by the Iris Capital Group, the property occupies a combined 974sqm site area with future height development potential and the scope for a rooftop bar with extensive city views.
The sale included 30 gaming machines, new beer garden and basement parking additions.
The sale comes after a busy year for Iris Capital Group, having divested interests in the Crest Hotel, Kings Cross and the Crown Hotel Parramatta to Chinese development group Greenland, who subsequently commenced sale programs for the residential redevelopments.