Capital Gain
The Imperial Erskineville, in Sydney’s inner west – one of the venues featured in the film The Adventures of Priscilla, Queen of the Desert – is getting a facelift to take the venue into its next phase.
Odd Culture Group is the new operator and will work with the owners, Universal Hotels, to give the “Impy”, as it is affectionately known, a $5 million renovation that will see its ground floor double in size, through an expanded beer garden as well as a 24-hour basement bar.
Universal Hotels acquired the Impy in 2023 for about $20 million from The Sydney Collective’s Fraser Short and Australian Hotels Association NSW President Scott Leach who saved the site from closure in 2015.
Constructed in 1880, the Impy at 35 Erskineville Road, has been an institution and symbol of the queer community over many years of its operations. Last year, the venue was also added to the NSW State Heritage Register for its “deep cultural and historical significance”.
Odd Culture, known for its portfolio of inclusive and diverse venues across Sydney, is an operator of other Universal Hotels’ venues, including the Universal, The Oxford and The Riley pubs, and is run by founder and chief executive James Thorpe.
He said the aim of the renovations is to secure both groups’ “long-term investment in the future of queer nightlife and artistic expression in Sydney”.
“The Imperial has spent more than 40 years helping to shape Sydney’s queer culture. This redevelopment is one of the biggest investments in its history, but more importantly, it’s an investment in the next 40 years,” Thorpe said.
It’s business as usual at the Impy with Odd Culture taking the reins from September 1, with the renovations slated to start in early 2027.
Arnaout’s Wisemans Inn
Fresh from his $500 million sale of seven regional pubs, Iris Capital’s Sam Arnaout is selling his Wisemans Inn Hotel on the banks of the Hawkesbury River, north-west of Sydney.
Arnaout bought the 195-year-old pub in September 2022 from Bill Young for about $10 million and is divesting it as part of his plan to focus on Sydney-based projects.
The pub opened in 1827 on a 5123-square-metre landholding and includes accommodation comprising six freestanding motel suites and five boutique pub rooms. The venue generates about $3.2 million in annual turnover.
It is close to a new boat ramp with 163 bays, but there is potential for expanded al fresco dining, family-friendly spaces, and special events programming. JLL Hotels & Hospitality Group agents Kate MacDonald, Greg Jeloudev and Ben McDonald are advising on the sale.
Seven Hills
The former Mercedes-Benz processing and parts storage centre in Seven Hills is being sold by the private vendor SHMPC Pty Limited with price expectations of $25 million to $27 million.
Constructed in 2018, the 29 Brumby Street site is being offered with vacant possession in the short term and comprises 5408 sq m of office and warehouse facilities on a 9703 sq m general industrial landholding and sits in the Blacktown City Council zone.
The property currently generates net rental income of about $1.46 million per annum. It is purpose-built for vehicle-intensive operations and comes with a 100kW solar system. Colliers’ Paul McGlynn is advising on the sale.
NRL hotel
With the tom-toms beating in the jungle that the National Rugby League is scouting Sydney for a new hotel, the hospitality sector is proving a happy hunting ground for investors and owners.
While no details have emerged, the Australian Rugby League Commission chairman Peter V’landys said recently that the NRL was looking to boost its property empire to be worth about $1 billion.
It has been suggested the NRL is looking at the Novotel Sydney International Airport hotel based in Wolli Creek. If the deal is done, it will add to its existing portfolio in Sydney which includes the Quest Woolooware Bay. It also owns the ibis Styles Port Macquarie hotel.
The potential sale comes as hotels continue to scoop up property awards. Last month, the Surry Hills Village by TOGA which includes the Eve Hotel won the Urban Taskforce Australia’s 2026 Development of the Year.
At the Accommodation Australia NSW Awards for Excellence held last week, the Luxury Hotel of the Year award was won by Park Hyatt Sydney, while the Metropolitan Deluxe Hotel of the Year went to Sheraton Grand Sydney Hyde Park.
carolynannecummins@gmail.com
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Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: www.smh.com.au
