The Riverina Hotel has been sold to a Sydney investor as part of what pub industry insiders are describing as a post-pandemic, off-market sell-off.
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The hotel was owned by Wagga rugby league veteran Joe Walsh, who sold off the hotel as well as the attached drive-through bottle shop, bistro, and 16 pokie machines.
The hotel's property manager Blake Edwards suggested that changes would be made to the pub, although the precise details remain to be seen.
"The buyer hasn't indicated explicitly what they will be doing, but has indicated they plan to invest money to improve the pub," Mr Edwards said.
"They think they can improve the offering."
Mr Edwards said there was a spike in demand for regional pubs from city investors who were looking to buy up "sub-metro markets of substance".
Mr Edwards said Mr Walsh was selling off the hotel with a view to enter retirement.
Joe Walsh declined to provide comment.
Records show Mr Walsh initially bought the hotel for $4 million in 2014, and the pub industry magazine PubTic says the recent sell-off is "believed to be well north of $5 million".
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Kenji Sato
Kenji Sato is a handsome journalist at The Daily Advertiser who enjoys writing flattering bios about himself in the third person. He can be contacted by email at kenji.sato@dailyadvertiser.com.au or by mobile on 0448 927 612.
Kenji Sato is a handsome journalist at The Daily Advertiser who enjoys writing flattering bios about himself in the third person. He can be contacted by email at kenji.sato@dailyadvertiser.com.au or by mobile on 0448 927 612.
