The Murrumbidgee Flour Mill finally has a new owner. Photo: Shri Gayathirie Rajen.
Wagga’s iconic and eternally for-sale Murrumbidgee Flour Mill Hotel is finally off the market.
National hotel brokerage firm HTL Property announced the site has been sold to “a respected and experienced local hotel operator”.
HTL Property’s Ben Kennedy believes that, after over two decades of failed promises to renovate and redevelop the site, The Mill is now set to become a flagship destination in Wagga and will contribute to the “ongoing transformative” growth of the city.
Mr Kennedy declined to tell Region the identity of the buyer or their specific intentions.
He said in a statement: “The purchaser brings an undoubted wealth of experience, a sharp operational lens and enormous vision for The Mill.
”Accordingly, the successful sale concluded is a strong vote of confidence in both the site’s potential and the strength of the active NSW regional hotel market.”
While the sale price has also not been revealed, hospitality news site PUBtic said it was bought for more than $3 million.
On a 7257-square-metre landholding at the southern gateway to the Wagga Wagga CBD, The Mill Hotel sits within the significant Murrumbidgee Flour Mill precinct.
The substantial freehold site offers a foundation for development, with about 2500 sqm of partially completed built form, including multi-level concrete slabs, a newly reinstated roof system, and upgraded parking facilities.
“With Wagga Wagga experiencing sustained population growth and broader regional expansion, opportunities like this are increasingly rare,” HTL Property’s Paddy Dalton said.
“The Flour Mill Hotel project enjoys exceptional foundations, meaning it’s perfectly positioned to benefit from the city’s rising demand for lifestyle, hospitality, and entertainment. Backed by an experienced visionary, it is set to become a cornerstone of Wagga’s next chapter.”
The flour mill first opened in 1890 and ceased operating in 1978, after which time it has often been on the market.
A decision was made to subdivide the broader 15,360 sqm Mill Precinct in early 2024 after it failed to attract buyers in December 2023.
Later that year, Global Commercial Real Estate Services (CBRE) told Region the 8314 sqm block on the south-eastern side of the complex was under offer from a prospective buyer, but the sale fell through.
HTL listed the property in April this year and eventually sold it to a hotel group, despite CBRE agent Nick Young’s suggestions that the property was more suited towards “large-format bulky goods or a goods retailer of some kind, or a mixed-use residential and retail project”.
The Murrumbidgee Mill precinct recently saw adjoining land earmarked for a fuel and retail business.
“This sale … successfully reflects the ongoing strength of regional hospitality assets and the increasing confidence operators have in growth corridors like Wagga Wagga,” Mr Kennedy said.
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