Geelong’s Sphinx Hotel back on the market with fresh expansion plans
The Sphinx Hotel owner George Ramia oversaw the construction of the replica Egyptian monument in the mid-1990s. Picture: Mark Wilson
A fresh push is on to find a buyer for Geelong’s Sphinx Hotel, where a 14m-high replica of the Ancient Eqyptian monument has been turning heads for decades.
The Ramia family has relisted the iconic entertainment venue after clocking up 54 years of ownership.
George Ramia said it had decided to test the market again following a previous expressions of interest sales campaign last year.
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The Sphinx on the market in Geelong
The 1.5ha site includes parking space for about 250 cars.
The pub, on a 1.5ha strategic site at 2 Thompson Rd, North Geelong, is currently available as freehold going concern with a price in the $40m vicinity or new long-term lease through CBRE Hotel’s agent Nick Hill.
The venue has evolved over the years to become an sprawling entertainment complex with gaming facilities, a bistro, 400-person event space and 16 accommodation suites.
Plans have recently been lodged with the City of Greater Geelong for another $3m development on the site, including construction of a new hotel accommodation building overlooking Geelong Golf Club and an 18-hole Egyptian-themed mini golf course with a mummy rising from a tomb.
Mr Ramia said the family was keen to gauge current market interest, despite challenging conditions for gaming venues in Victoria.
The hotel went all in with the Egyptian theme.
The bistro wraps around the front of the hotel.
“There has been couple of people show a bit of interest,” he said.
“We’re not really pushing it, we are just floating it out there.
“The market isn’t too good right now with legislation changes and interest rates, particularly with gaming investors. A lot of investors are going to Queensland and NSW and South Australia because of the card legislation that’s coming forward in Victoria.
“It’s had a detrimental effect on the ground.”
Pokie reforms introduced to the Victorian parliament late last year will require patrons to insert a play card to operate a gaming machine.
There’s 16 hotel rooms set over two levels with access to an in-ground swimming pool, plus plans to develop another 24 rooms.
From December 2025, the amount of money people can load onto a machine will be reduced from $1000 to $100.
The Sphinx has 67 gaming machines, which represent just one income stream new owners can tap into.
The hotel also comprises multiple bar areas and function rooms, an outdoor beer garden, a TAB, a recently renovated sports bar and a dual-lane Thirsty Camel drive-through bottle shop.
The Pharaohs Bistro can comfortably seat 200 people, while the Luxor Showroom plays host to large weddings and tribute bands.
There is an additional vacant residential site at the rear available by separate negotiation.
