A pub with the potential to rival one of the region's premier hospitality venues is one of two Riverina watering holes going under the hammer next week.
Wombat Hotel, located on the Olympic Highway between Cootamundra and Young, and Wallendbeen Hotel, also located between Cootamundra and Young, will be auctioned next Friday.
Brian McManus, the agent responsible for the sales, said neither hotel has been officially listed as for sale and are both fresh on the market and attracting an influx of prospective buyers.
"They're both freehold so it's land, building and business," Mr McManus said.
"I imagine both of them will sell under the hammer next week."
Mr McManus said 99 per cent of buyers are Sydneysiders looking to relocate to regional NSW.
"It's mostly Sydneysiders looking at coming out, or first-time hoteliers, it's not a manager upgrading to buy their own pub, they're people selling their homes and coming out that's 99 per cent of inquiries," he said.
With financial challenges a growing burden on pub life the watering holes' best chance at a new era is if they are snapped up by city buyers, Mr McManus said.
"They have the cash and the capital to reinvest in them and take them to the next level," he said.
"It's time for some money to be spent on the Wombat and for somebody to come in with a fresh approach for it."
As for Wallendbeen Hotel, Mr McManus said it has great potential to be developed.
"It has over 30 hectares that could be added to it so the new owners could put villas out the back and turn it into a Sir George quite easily," he said, referencing the immensely popular, revamped Jugiong pub.
"Plus, you've got access to the railway - so you could get trains to come out."
Mr McManus said he is still accepting keen bidders, but they will have to be suitable if they want to place a bid.
"You don't want someone buying it and not being able to settle," he said.
"It's pretty hard to get finance at the moment for pubs so a bidder would have to be pretty financially secure.
"They'll probably sell for between $1 million to $3 million."
Interested buyers can contact Mr McManus by emailing brian@brianmcmanusrealestate.com.
Taylor Dodge
Your story matters, your voice deserves to be heard and I would love to help you share it. I have five years of experience as a Journalist with Australian Community Media covering an array of topics, with a key focus on breaking news and crime and a passion for people. E: taylor.dodge@austcommunitymedia.com.au.
Your story matters, your voice deserves to be heard and I would love to help you share it. I have five years of experience as a Journalist with Australian Community Media covering an array of topics, with a key focus on breaking news and crime and a passion for people. E: taylor.dodge@austcommunitymedia.com.au.
