The Mill Residence is losing businesses as the Asian Supermarket has confirmed its closure and another restaurant's future is under a cloud.
Lone Star Rib House has been listed for $495,000, following just 14 months since its doors opened to the community.
Business sales specialist Henry Wittenberg said the owner is the developer of The Mill, James Maher, and he chose this national franchise to attract people to the $100 million complex.
"Lone Star was chosen in order to sell out the precinct and he brought in a highly reputable franchise to make the place attractive to both clients, shopping and also investors," Mr Wittenberg said.
"The price has been a little high and so we haven't seen much inquiry yet, but my client is open to offers.
"The conference room and hotel that is coming in the next year or so, will absolutely encourage more businesses and traffic will increase."
Despite Pig and Pastry Cafe confirming that a lack of foot traffic was one of the major reasons for their departure in November, Mr Wittenberg said the location of the site and brand's reputation is what sets the business apart from other opportunities.
"Most patrons and clients would be coming by car and it's located on a major road and next to the train station," he said.
"This national brand does a unique range of American and Australian cuisine and the famous soft-cooked ribs is in itself a draw card."
Denis Xiao, owner of The Mill Asian Supermarket, confirmed the shop has closed down but did not say why.
Despite businesses closing their doors, construction is set to begin within the next few months for a Holiday Inn that will boast 148 rooms on six levels.
The heritage-listed Murrumbidgee Flour Mill and Grainstore will be a component of the development.
The InterContinental Hotel Group has partnered with Interlink Australia and the hotel is anticipated to create 120 to 150 jobs during construction and approximately 70 ongoing positions once the hotel opens.
Wagga mayor Greg Conkey previously told The Daily Advertiser that the new hotel was a good fit for the city's reputation as a progressive regional capital in NSW.
"Our city continues to attract large-scale events which bring 1.3 million visitors to Wagga each year," Cr Conkey said.
"A development of this calibre is sure to support the city as a preferred destination for business and leisure events."
It is hoped bringing more accommodation options to the region will put Wagga on the map as a business hub.
The DailyAdvertiser contacted developer, Mr Maher, for a right of reply on numerous occasions, but requests have been ignored.