Pub barons and Rich Listers the Laundy family have added to their multibillion-dollar property empire after buying the Light Brigade Hotel at the top of Sydney’s Oxford Street for about $20 million.

The imposing four-storey venue on the border of Paddington and Woollahra was put on the market in April by veteran publicans the Bayfield family. They paid $9 million for it seven years ago, but then spent another $5 million on renovations including adding a new rooftop bar.