The award-winning live music venue, the Lansdowne Hotel in Chippendale has been listed for sale with HTL Property’s Andrew Jolliffe, Sam Handy and Blake Edwards appointed to steer the sale process in conjunction with IB Property’s Steffan Ippolito and James Campbell.
The Lansdowne, a former winner of the Australian Liquor Industry Awards’ Live Music Venue of the Year, is located to a growing part of Sydney with huge mixed-use urban renewal redevelopments happening all around the hotel.
The hotel is situated close to the proposed innovation precinct, dubbed Tech Central, which is a government-backed technology hub located next to Central Station (and above its rail yards); which is set to drastically expand the southern end of Sydney’s CBD. The 24-hectare precinct, covering land between Goulburn and Cleveland Streets, will soon feature 250,000 sqm of A-grade commercial space – and will be home to an additional 25,000 jobs.
“Tech Central has been greenlighted and will transform not only the largely unloved Central Station precinct of Sydney, but also the wider southern CBD precinct,” said HTL Property’s Edwards.
“It represents a $3 billion investment in the southern CBD and will be of similar scale to that of the recent renewal and activation of the Barangaroo waterfront.”
The four-level hotel features an expansive trading footprint, with an approved capacity of 480 patrons at any one time, plus a large rooftop garden, 5am liquor licence and first floor extended trading approval.
“Whilst institutionally popular as a live entertainment venue, the unmistakable scale of The Lansdowne Hotel lends itself favourably to the further and regular activation of multiple other levels,” said HTL Property’s Handy
“In terms of its location, trading footprint and patron capacity, the business presents as a compelling opportunity to activate a food and beverage proposition that better resonates with the surrounding demographic.”
IB Property’s Ippolito added: “The size of the site in combination with the floorplates of the building and the planning approvals, mean that the Lansdowne Hotel presents with some very obvious alternative-use options.
“We expect that it will attract interest from astute investors interested in repurposing the building for commercial, retail and accommodation purposes.”
The hotel is expected to attract interest upwards of $25m, with Expressions of Interest scheduled to close at 4:00pm on Wednesday, 16 August 2023.