Beer Deluxe: New Albury Hotel auctioned for millions
Real estate agents say it’s the ‘most iconic’ building in Albury, but how much did it sell for at auction? Find out here.
Albury Wodonga
Don't miss out on the headlines from Albury Wodonga. Followed categories will be added to My News.
The iconic New Albury Hotel, Beer Deluxe, has sold for a wealthy $13.2 million following a packed auction on Friday afternoon.
Buyers gathered from across NSW and Victoria to bid for what auctioneer Doug May called “one of the most iconic buildings between Melbourne and Sydney”.
Bidding for the Kiewa Street pub began at $8 million, and was bought at $13.2 million following an intense battle between the final two bidders.
Known by locals as Paddy’s, the venue is a popular with locals and visitors alike for post-work drinks.
The heritage-listed hotel was first built in 1939 and is a big part of Albury’s history, according to the Australian Venue Co, the pub’s tenant.
Mr May described the Australian Venue Co, which operates 177 venues across Australia and New Zealand, as an “outstanding tenant”.
The hotel expands over five levels, features 15 gaming machines and has an annual rental of $540,053.
More Coverage
Pictures: Victorian preppies start their first day of school
About 70,000 Victorian grade prep students have started their first year of school this week. Check back to see all the photos from primary schools across the state.
Drop off danger: Kids at risk on roads around schools
More than one in five crashes near Victorian schools are occurring in Melbourne’s north, prompting safety concerns for kids travelling to and from school.