Oxford Street's Colombian Hotel listed

The Colombian Hotel on Sydney's Oxford Street has been listed for sale through Andrew Jolliffe and Joel Fisher of Ray White Hotels Australia in conjunction with Gerry Quinlan of Manenti Quinlan & Associates.

The three level former Westpac Bank building is on the Corner of Oxford and Crown Streets, Darlinghurst. It has been listed by hotelier David McHugh with $20 million hopes.

Co-agent and Gerry Quinlan said the property has consistent and reliable annual revenue as well as 30 high performing poker machines, will attract strong interest from a broad range of hotel and property investors.

“It is a unique property that attracts strong patronage across a range of operating time frames, as well as enjoying formidable revenue from gaming operations; consistently ranked highly in the State’s Top 200 gaming venues quarterly” he said.

“We have seen a resurgence in commercial property values in Oxford St after a period of suppression given development in other areas, however what is clear to astute investors is that the various infrastructure investment strategies being deployed at both State and Federal level will have a significant impact on the value of commercial property in the Oxford St precinct."