Oscars list trophy in “under-pubbed” Como

Oscars Hotels recently paid $85 million for Caroline Springs’ Westwaters Hotel & Entertainment complex.

Bill and Mario Gravanis are selling one of their smaller assets – the Como Hotel, in Sydney’s south, after nearly six years.

The elevated 3000 square metre with a replica of a four storey 1878 pub destroyed by fire in 1996, is expected to trade for c$20 million.

The Gravanis’ Oscars Hotels paid businessmen John Singleton, Geoff Dixon and Mark Carnegie $5.6m.

Since that time, the hospitality group has snapped up much larger assets including last year, Long Island, for nearly $20m, and the Oakwood, in Brisbane’s CBD (c$50m).

Three months ago, Oscars paid the Hawthorn Football Club and private investor David Feldman $85m for the Westwaters Hotel & Entertainment complex, at Caroline Springs, west of Melbourne.

Como Hotel

The Como Hotel includes a public bar, bistro and top floor function room which could trade as a separate entity (story continues below).

Previous owners include the Catholic Church and rugby league player Arthur ‘Artie’ Beetson.

At 35 Cremona Road, Como, in The Shire precinct, the venue is about 27 kilometres from the CBD.

“The Shire is known for its consolidated ownership meaning assets rarely come up,” HTL Property’s Dan Dragicevich, who is marketing the asset with Andrew Jolliffee and Sam Handy, said.

“The area is under-pubbed compared to the rest of Sydney,” he added.

Large format venues both trade strongly and are tightly held, according to the executive.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.