Marvan Hotels has sold the Evening Star Hotel in Sydney's Surry Hills to a private investor.

Situated opposite Central Station, the venue features a 24-hour liquor licence with 24 poker machines licenses, while also being surrounded by several top 100 and 200 ranked gaming hotels.

HTL Property’s Dan Dragicevich and Sam Handy negotiated the off-market sale, in what was the agency’s eighth inner-city mid-market transaction across the past 12 months.

At a glance: 

• The Evening Star Hotel in Central Sydney has been sold to a private investor in an off-market transaction.
• The venue features a 24 hour liquor licence with 24 poker machines licenses, while also being surrounded by several top 100 and 200 ranked gaming hotels.
• The transaction was negotiated by HTL Property’s Dan Dragicevich and Sam Handy in what was the agency’s eighth inner city mid-market transaction across the past 12 months.

It also comes less than a week after the announcement they had sold Sydney's Bligh Park Tavern for the De Angelis family.

The price for the hotel remains undisclosed, however, it is understood was consistent with the agency's price guidance of $12 million.

Mr Dragicevich said the purchaser was a relatively new entrant to the market, which served as an encouraging sign given the multiple natural barriers to entry for the asset class.

"This transaction further underlines our ability and track record with unearthing non-traditional sources of capital and delivering upon a successful outcome for all parties," he said.

Marvan purchased the hotel in 2014 for $5.5 million before executing a significant renovation and refurbishment of the hotel.

The business now also benefits from proximity to the Surry Hills light railway station, which is set to enjoy up to 120,000 passenger movements per day.

Mr Handy said the agency was holding conversations with several qualified buyers seeking similar style assets.

"Our track record and resultant market share in this segment of the market is pleasing and strengthening further," he said.

Mr Jolliffe said while other industries were being challenged by trade impositions and business models which required greater runway in order to reignite their respective customer base, it was not the case in the hotel sector.

"Hotels have enjoyed a first-mover benefit over other share-of-dollar competitors operating upon the national hospitality and leisure asset landscape, due mainly to their capacity to become cash flow generators," he said.

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