Popular local the Riverina Hotel in Wagga Wagga has been sold to an acquisitive Sydney-based hotelier in an off-market post-pandemic transaction that points to the increasing desirability of strong regional assets.
The freehold going concern pub offers a public bar, bistro, gaming room with 16 machines, and a drive-through bottleshop. The corner operation occupies a sizeable 1,752sqm block, with off-street car parking and a manager’s unit.
The Hotel’s licence allows trading until 3am, but it typically doesn’t trade past 10pm.
NSW’s largest inland city, with a population of approximately 62,000 residents, Wagga Wagga means ‘land of many crows’ but in recent years it has also been home of at least one tiger.
Joe Walsh played for everyone’s second-favourite team, the mighty Balmain Tigers, for five years until 1973, highlighted by a National Rugby League Premiership in 1969.
Records show Walsh purchased the Riverina in 2014 for around $4 million.
Ending his career as the fabled footballer turned publican, he passes the Riverina baton to the next generation in a transaction believed to be well north of $5 million.
The sale was managed by HTL Property’s Blake Edwards, who notes the momentum in the market for strong regional operations, reporting in excess of $50m in regional sales by HTL since the start of 2020.
