The buildings currently housing one of Australia’s longest running gay clubs ARQ and neighbouring Bodyline Sauna at 4-10 Taylor Street in Darlinghurst were listed for sale off market by VIN Commercial before it was pulled by the end of the day.
The proposed sale was to be an amalgamation of 4-24 Flinders St, 2 Sturt Street & 4-10 Taylor Street Darlinghurst, with expressions of interest scheduled to have closed on September 9, 2021.
The sale was previously billed as a truly remarkable future mixed use development opportunity subject to council approval.
Breaking the news on Monday evening, DIY Rainbow posted on social media about the proposed sale, which was quickly shared multiple times across Facebook.
‘Vendor Has Had Second Thoughts’
Star Observer reached out to VIN Commercial seeking clarification. In a written reply from Managing Founder of Vin Golchin, it was stated that, “Unfortunately the vendor has had second thoughts and asked us to refrain from any further sales activity until further notice… The vendor had the right to rescind at any time with immediate effect and this was actioned, as per their wishes.”
“Please note that VIN Commercial have no further involvement in the sale moving forward.”
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Star Observer has also been told that an undisclosed Oxford Street venue put forward a legitimate offer to purchase the venue that was ultimately rejected by the owners.
It is not understood why the vendors have chosen to withdraw the properties from sale. However in light of the new Oxford Street LEP, the properties may increase in value due to the higher density developments currently favoured by City of Sydney.
Another source has also speculated the vendors may have withdrawn the sale, pending the appointment of a new sales team.