Historic Flour Mill Hotel sold
A local operator has bought Wagga Wagga’s c1890 Flour Mill Hotel with plans for a major revamp.
The sale of the 7257 square metre holding, Lot 80, 50 Edward Street, comes three years since a fraud dispute between current and ex-directors of a company linked to the vendor headed to court.
Known locally as The Mill Hotel or The Mill, the empty property – the former Murrumbidgee Cooperative Milling Co base – is speculated to be trading for over $3 million – about guide when it was listed April.
With 2500 sqm fit out with a bar, restaurant and kitchen, a new roof has recently been installed.
There are also over 100 car parks.
Part of the Mixed Use 1 zoned block can be developed with a c25-metre structure – potentially a 32 room hotel, according to the agents.
The deal comes six months since we reported Elanor Investors Group sold Wagga Wagga’s Mantra Pavilion for $8.75m.
Next chapter for The Mill
The Mill Hotel will form part of a proposed master-planned residential based community with high density dwellings.
It neighbours a parcel recently sold for a quick service retail complex.
“With Wagga Wagga experiencing sustained population growth and broader regional expansion, opportunities like this are increasingly rare,” HTL Property’s Paddy Dalton, who brokered the sale with Ben Kennedy and Blake Edwards, said.
“The Flour Mill Hotel project enjoys exceptional foundations, meaning it’s perfectly positioned to benefit from the city’s rising demand for lifestyle, hospitality, and entertainment,” he added.
“Backed by an experienced visionary, it is set to become a cornerstone of Wagga’s next chapter,” according to the executive.
“The Mill will undoubtedly become a flagship destination within the city”.
Mr Edwards said the incoming owner is local and experienced.
“This sale…reflects the ongoing strength of regional hospitality assets and the increasing confidence operators have in growth corridors like Wagga Wagga,” he added.
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