Deja vu: Controversial Wagga landmark, Murrumbidgee Flour Mill, up for sale again

The Murrumbidgee Mill on Edward Street was listed on the market on Friday, as the owners seek to sell the precinct at around the $11 million price mark.

The move comes as the hotel owners seek to exit rural and regional Australia and focus on assets in Sydney.

The sale is being managed by specialist national brokerage firm HTL Property directors Nic Simarro and James Carrick.

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The 15,360 square metre site has previously been home to a Lone Star steakhouse, Chinese restaurant and an Asian supermarket.

Construction to build a Holiday Inn at the site began in March 2021, however these plans have since fallen by the wayside.

However, the previously approved hotel development application remains a real possibility with new owners approved to build a 142-room accommodation business.

As such, the property directors said the current owners have completed substantial engineering and construction works, giving prospective buyers a shovel-ready development opportunity.

Remediation works have also been completed at the site and underground services installed.

The owners have indicated over $12 million has already spent on initial works at the major development which is expected to play a key role as Wagga's population continues to rise.

"Wagga boasts a consistently growing population of approximately 70,000 residents [at present], and this is predicted to continue in the short to long term - with predictions of 90,000 people by 2036," Mr Simarro said.

"Accordingly, additional accommodation supply is essential to the city's continued growth."

But Mr Simarro said there are "limited options" in the current "tightly held market" to acquire accommodation.

"Development sites on a scale such as this are a very credible option," he said.

Mr Carrick said the site is also being offered at a "heavily discounted" cost as his clients are "motivated to meet the market and exit the development entirely."

The Flour Mill Hotel is for sale via an expression of interest process set to end at 4pm on December 7.

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