Redcape Hotel Group has taken advantage of strong demand for trophy Sydney pubs, selling one of the lower north shore’s best-known late-night venues, Minskys Hotel, to the Karellas family and publican Mitchell Waugh for $39 million.

The 3344 square metre two-level strata property nestled between Neutral Bay and Mosman at 287 Military Road includes a popular piano bar and regularly hosts late-night live music gigs courtesy of a 4am trading licence.