Four In Hand, Paddington hotel for sale

The popular Four In Hand in Paddington is the latest hotel to hit the market.

The owner of the past 25 years has decided to take advantage of the current red hot hotel sector which has seen the nearby Woollahra Hotel fetch $30 million plus.

The Royal Hotel in Paddington was also recently sold to the Waugh brothers' Public House Group for $15 million and the Light Brigade Hotel was bought by the Bayfield Family for $9 million.

In the past year, more than than $200 million of pubs assets have changed hands as pubs have returned to favour, particularly around the suburbs, to avoid the new late-night lockout drinking rules imposed on the city and some fringe areas.

The Four In Hand has been listed through Ray White Hotels Asia-Pacific director Andrew Jolliffe.

"The 4, as it is affectionately known, is an institution in the Sydney pub landscape," Mr Jolliffe said.

"Melbourne has a number of these great food and beverage icons like the Four in Hand, however, unfortunately they are few and far between in Sydney. That's why this is such a special hotel."

It had over $4.75 million in total sales in FY2015.

The 375 sq m corner holding had a recent $1 million renovation.