Oxford Street's Much-Loved Midnight Shift Has Been Bought by Universal Hotels

More than a few hearts were broken when legendary Oxford Street gay bar The Midnight Shift announced its closure last September. But the long-standing icon could soon be getting a new lease on life, having sold to a Sydney hotel group last week.

Universal Hotels released a statement saying it had acquired the sprawling venue for an 'undisclosed amount', with Commercial Real Estate reporting it had been snapped up for a cool $12 million. This latest acquisition marks the group's fourth purchase in the area in the past 12 months.

The Universal Hotels' stable also includes the recently acquired fellow Darlinghurst haunts The Brighton Hotel, Kinselas and The Oxford Hotel, suggesting that the whole precinct — one of the hardest hit by NSW's lockout laws — could soon enjoy a resurgence.

While the future of The Midnight Shift is still uncertain, Universal Hotels managing director Jim Kospetas released a statement saying the group plans to inject new lift into the area. "Darlinghurst, while hit hard by the introduction of lock-out laws in 2014, is showing signs of recovery," Kospetas said. "We plan to work closely with the community and with our fellow hoteliers to revitalise the area as a whole."

Clocking in at 1000 square metres and with capacity for 528 people, The Midnight Shift last sold for $8.25 million back in 2008.

The Midnight Shift is located at 85-91 Oxford Street, Darlinghurst. We'll keep you posted when we know more about its future.