A popular pink pub prominently positioned in the centre of the commercial and retail heart of Murwillumbah in far north coast NSW has been sold at auction for $835,000.
The Imperial Hotel at 115 Murwillumbah Street was sold under the hammer to a Sydney-based buyer by Darren Jones, of Ray White Commercial Burleigh, and Byron Glenn, of First National on behalf of Mormatsal Investments.
Mr Jones said the on-site auction attracted a big crowd. Five registered bidders competed for the hotel, which is on a land area of about 2540 square metres.
“There was a great atmosphere at the auction and keen bidding before the hotel sold under the hammer to a Sydney developer who is looking to restore the hotel to its former glory,” Mr Jones said.
“He will be looking for suitable tenants to operate the hotel and facilities.”
The two-storey hotel has high exposure to pedestrians and traffic. It has a cellar, ground-floor trading areas with three bars and a bistro, and accommodation on the first floor. There are 20 guest rooms and onsite parking.
Mr Glenn said the hotel was a popular local venue and renowned for its character.
“The public bar was built in 1931 in the style of the day, which included an art deco street facade blended with Spanish mission and neo-Georgian elements,” he said.
Murwillumbah is on the Tweed River and is in one of the fastest growing regional areas of NSW. It is well-supported with established commercial and service infrastructure.