Darlinghurst’s Exchange Hotel sold to private investor

​Sydney, 29 June 2015 In the latest series of national hotel deals, Sydney’s Exchange Hotel in Darlinghurst has been sold to a private investor.

Over the past 20 years, the Exchange Hotel - located on Oxford Street - has operated as a nightclub-centric venue with well-known brands such as Spectrum, Phoenix and Q Bar.

The venue was sold by CBRE Hotels on behalf of a private partnership of long term owners.

“Increased appetite from retail and commercial investors coupled with the effects of the lockout laws meant that the multi-level nightclub model that the Exchange Hotel has for so long operated under was no longer optimal,” says CBRE Hotels national director Dan Dragicevich.

“The incoming owner is a private investor who has different ideas for the site but is maintaining ownership of the liquor licence so there will continue to be some form of hospitality offering.”

The sale takes the total amount of pub assets sold by CBRE Hotels so far in 2015 to over $220 million.

Dragicevich says that the metropolitan hotel markets of Melbourne, Sydney and Brisbane have continued to be very active, with highlights being the circa $40 million sale of the Oasis on Beamish in Sydney’s Campsie - the largest single of gaming-centric hotel in NSW since 2007.

2015 also seen the sharpest passive pub yield ever achieved in Victoria at 3.5 percent for the Imperial Hotel in the Melbourne CBD and the largest privately negotiated deal to the ALH/Charter Hall consortium for two hotels in Townsville.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue).  The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.