Historic Sydney Hotel Sells for $5 Million

27 Apr 16

Having laid dormant for the last 30 years, Pyrmont's historic Terminus Hotel has just been sold to a private developer who intends to bring the property back to life. The $5 million deal was done by another private developer, Auswin TWT, who bought the property just a year ago from the extensive Sydney property portfolio of the private Wakil Family.

Under mixed use zoning, the Sydney hotel will provide the ideal opportunity for a number of bar and dining options as well as accommodation. The two storey hotel sits on 493 square metres and was built in Federation Style in the early 1900s. Originally known as The Cooper's Arms Inn, the hotel took its current name in 1911 as a reference to the tram service that terminated on Jones Street.

The Terminus Hotel retains many of its original features including its distinctive parapet skyline detail and red brick façade. The first level of the hotel features 12 rooms of pub-style accommodation along with all the other associated restroom and shower facilities. Although uninhabited for the last three decades, the interior has managed to retain much of the charm of a bygone era, with its ornate floor and wall tiling and metal ceilings.

The proceeds of the sale of the hotel will join millions more generated by the Wakil Family selling off their vast property portfolio. The family began selling properties in 2014 in an effort to raise funds for their charitable foundation. These efforts culminated last week in a huge $35 million donation to the University of Sydney. The largest donation in the history of the university, the funds will be used to build part of a new health precinct.

Locals and history buffs are delighted that the property was purchased by a sympathetic buyer who intends to bring it back to its former glory.