Sydney live music icon, the Landsdown Hotel, on the market for $25M

The award-winning Lansdowne Hotel in Chippendale has been listed for sale for $25M by pub brokerage firm HTL Property and commercial agency IB Property.

After changing hands multiple times over the years, the well-established Sydney Uni hangout is now on the fringe of Sydney’s proposed innovation precinct, dubbed Tech Central, a government-backed technology hub next to Central Station and above its old rail yards.

HTL Property’s Andrew Jolliffe, Sam Handy and Blake Edwards have been appointed to steer the sale process in conjunction with IB Property’s Steffan Ippolito & James Campbell.

Blake Edwards, Director at HTL Property, said the proposed Tech Central would impact much of the CBD, given the 24-hectare precinct will take city blocks between Goulburn and Cleveland Streets, featuring 250,000 square metres of A-grade commercial space and new 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. 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,” he said.

Already in the centre of other mixed-use urban renewal redevelopments, like Frasers $2 billion Central Park precinct, the Lansdown Hotel is a unique heritage proposition among a sea of development.

“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 Sam 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,” added Handy.

The hotel already has favourable planning approvals, which support further intensification of the site (STCA). Accordingly, it will undoubtedly appeal to both property investors and developers seeking a foothold in the southern end of the Sydney CBD.

“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,” said Steffan Ippolito from IB Property.

“We expect that it will attract interest from astute investors interested in repurposing the building for commercial, retail and accommodation purposes,” he said.

The hotel is expected to attract interest upwards of $25 million, with expressions of interest scheduled to close at 4:00 pm on 16 August 2023.

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