Sydney's infamous last drinks pub sells for $22m
The Courthouse Hotel, a late night pub and Sydney institution located on one of the city's major thoroughfares, Oxford Street, has changed hands for the first time in 30 years, for $22 million to investment group Moelis Australia.
The well-worn four-level venue at Taylor Square in Darlinghurst, which is often the last stop for late-night revellers in the city, will undergo a refurbishment by Moelis.
“The acquisition of this historic venue in the heart of one of inner-Sydney’s most diverse and dynamic precincts presents an exciting opportunity," Moelis Australia Hotel Management (MAHM) chief executive Dan Brady said.
“The landmark community hotel has a prominent place in the history of the Darlinghurst and Oxford Street community. MAHM will honour this as we look to re-establish the hospitality heartbeat of Taylor Square through a refurbishment that celebrates its significant heritage," he said.
Mr Brady said the refurbishment along with staff engagement and a community advocacy-focused operational model would lead to attractive returns for investors and an enhanced experience for patrons and would contribute to the late night economy as Sydney opened up after COVID-19.