Brothers Bill and Mario Gravanis of Oscars Hotels have put up for sale the iconic Como Hotel a landmark property in Sutherland Shire south of Sydney.

The brothers bought the building in 2016 for $5.6 million. Oscars Hotels which is based at Brighton-Le-Sands, also owns the Rocksia Hotel in Arncliffe and the Novotel Brighton-Le-Sands.

The Como Hotel is to be sold through HTL, a Sydney-based brokerage owned by hotel specialists.

HTL listing agent Dan Dragicevich said the building which had been completed in 1883 ion 3,000 square metre property overlooking water and park views. It was burnt down in a fire in 1996 and rebuilt to the original style and was part of the area’s heritage.

Mr Dragicevich said the Gravanis brothers had formed one of the biggest hospitality groups in Australia.

“They have not outgrown [the Como Hotel] – they started in pubs and they are still in pubs, but they are buying islands, big accommodation and leisure assets. They are full integrated into hospitality now,” Mr Dragicevich told the St George and Sutherland Shire Leader.

“Even though the Como Hotel is a big operation – we are quoting about $20 million – it would be one of their smallest operations.

“The boys don’t need to sell it. If we get the right price it will go quickly, but if not they hold it. …They are happy to be there. It’s more about what if they could take it and put it into a bigger asset,” Mr Dragicevich.

He said rising inflation had forced some to consider their options in the “pub space” with older owners moving on or retiring after “thinking about having to ramp up again and find staff, but equally there was increased appetite from buyers. …They know other sectors and businesses have a lag time before you get cash flow in. With pubs, you open door and the money goes straight into the till.”

He said the Como Hotel with a weekly revenue of between $80,000 and $90,000 was too big for a single owner-operator and was more suitable for a small group or syndicate.

Expressions of interest close on midday 15 September unless the building sold before then.