SYDNEYSIDERS could be down another place to party, with another Eastern Sydney icon hitting the market yesterday.

The Colombian hotel, which boasts a double frontage on both Oxford and Crown Streets in Darlinghurst, has been listed by Ray White Hotels Australia. It is expected to sell for in excess of $15 million.

Open until 6am, with attractions including 30 poker machines, drag shows and male cage dancers, the hotel is well known both as a gay bar and a place to round out a night on the town.

Asia Pacific Director of Ray White Hotels Australia Andrew Jolliffe denied that lockout laws were a factor in the sale.

“Our client has relocated internationally, and has entrusted us to manage the sale of his remaining hospitality asset. Something we feel very privileged to do,” Mr Jolliffe said.

media_camera The Colombian Hotel, for sale by Ray White Hotels Australia

The hotel’s sale comes at a time of broader transformation for Sydney’s inner and Eastern suburbs.

“Along with being one of the most densely populated suburbs in all of Australia, Darlinghurst is home to a young and vibrant community; whose residents are typically independently wealthy and have high, disposable incomes; an attractive proposition for any hotel operator or investor,” said Mr Jolliffe.

Hotels like The Paddington, Dolphin Hotel and The Light Brigade Hotel have recently received modern makeovers, and residential developments such as the Hensley and Omnia in Potts Point and Golf House in Surry Hills are changing what it looks like to live in the area.

Mr Jolliffe denied that falling trade was a factor in the sale, saying the hotel has a “very strong beverage and entertainment background” and that the three-storey building could suit a range of buyers.