Oxford Street’s Colombian Hotel has been put on the market after a decade under the ownership of Iris Capital.
Iris Capital, which is run by billionaire pub owner Sam Aranout, is offloading both the Colombian Hotel and Gaslight Inn.
Aranout purchased the Colombian for roughly $18M in 2016, before purchasing the Gaslight Inn for roughly $6M a few months later.
No price guide was given for the pubs, located on adjacent sites on the corner of Oxford and Crown Streets, but they have a combined annual revenue exceeding $11.6M.
The properties combine trading income from their 24-hour licenses, 50 gaming machines, and accommodation attached to Gaslight Inn.
JLL Hotels & Hospitality Group is managing the sale, with Managing Director Ben McDonald saying the assets were available individually or as a portfolio.
“These are highly recognisable Sydney assets with strong existing trade, meaningful scale and strategic positioning within a rapidly evolving urban corridor,” he said.
Senior Vice President Kate MacDonald added that the properties were underpinned by their strategic location, scale and land scarcity across Sydney’s inner-city market.
“Assets with this combination of landholding scale, trading performance, location and future optionality are impossible to replicate given high barriers to entry and continued demand for operating hospitality real estate,” she said.
A former Westpac Bank building, the Colombian has a long history with Sydney’s LGBTQIA+ community.
It recently appointed Peter Shopovski, of House of Mince, who told Gay Sydney Daily at the time that part of his role was to establish the venue as a gathering place for the queer community.
“We want people to feel that when they walk into the Colombian, they are entering a space that is proudly queer, welcoming and creatively alive,” he said.
Expressions of Interest for the properties close on October 1, 2026, unless sold prior.
