Owners put Sydney's Light Brigade Hotel up for sale

Sydney's iconic Light Brigade Hotel has been put up for sale and is reportedly expected to fetch about $20 million.

The hotel, which sits on the corner of Oxford Street and Jersey Road, dates back to the 1880s.

It's been offered for sale by hotel's owners, the Bayfield family, who bought the pub and business seven years ago for $9 million, before spending a further $5 million on renovations, The Australian Financial Review reports.

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The hotel will be listed by commercial real estate company HTL Property.

Andrew Jolliffe, from HTL Property, told The Australian Financial Review the hotel had been listed after the owners received several unsolicited approaches.

The Bayfield family were the previous owners of the Newport Arms Hotel in Pittwater, which they sold to Sydney pub tycoon Justin Hemmes in 2015.

The Bayfield Hotels Group was started 40 years ago by brothers Wayne and Mark Bayfield and their late father Neville when they took over the Dee Why Hotel.

The business still owns the Dee Why Hotel and also has the Belrose Hotel in its portfolio.