The historic Terminus Hotel in Pyrmont, Sydney has been sold for $5 million to a private developer, who plans to breathe life back into the property, which has been dormant for the past 30 years.

It was sold by another private developer, Auswin TWT, which bought it only a year ago from the private Wakil Family, which has an extensive property portfolio around Sydney.

Under the mixed-use zoning, the hotel provides an opportunity for multiple bars, dining and accommodation options.

Auswin TWT will retain the car park on the south-western side of the hotel, where it plans to develop luxury terraces.