Collector's Bushranger Hotel has sold but agents have remained tight-lipped about the buyer.
Locals are hoping the pub, closed since June 2024, will be resurrected as their watering hole and social hub.
The Church Street hotel failed to sell at an onsite auction on Wednesday, October 23, which The Goulburn Post understands attracted two registered bidders. The highest bid was $470,000, below the $500,000 reserve set by agent, HTL Property.
But agents Sam Handy and Ben Kennedy announced on October 30 that the sale was negotiated "hours later", above the reserve price. Real estate records showed it sold on October 28.
Neither agent returned requests for comment on the price or the buyer.
The pub was sold under instructions from receivers and managers, Ashton Chace Group. The business entered voluntary administration in early 2024.
It was billed as one of the cheapest properties in the region. However the hotel requires significant restoration and rectification work, locals say.
The pub is best known for its association with bushrangers Ben Hall, John Dunn and John Gilbert. Dunn shot Constable Samuel Nelson dead at what was then Kimberley's Inn after the bushrangers had held up people and taken others hostage.
The 1860-61 rubblestone and red-brick structure sits on 4390 square metres and includes a bar, bistro, dining room, open fireplace, beer garden, kitchen, six "under-utilised" accommodation rooms and six powered camping sites. Agents also pitched its development potential on the large block.
Mr Kennedy said the sale highlighted confidence in the region.
"The ... purchaser is looking to revitalise and renovate the hotel while maintaining its charming country character," he said in a statement.
Mr Handy said access to large passing traffic volumes on the nearby Federal Highway could entice a "vast number of potential customers", and suggested it could offer short-term accommodation.
"The Bushranger Hotel is an excellent opportunity for a visionary publican or developer to build a destination venue similar to the stupendously successful Sir George of Jugiong," he said.
"Collector is a tight-knit community, which will undoubtedly support the pub moving forward and which is evidenced by the 35 local residents who attended the auction in the hope of meeting the local's new owner."
The agents initially called for expressions of interest in the heritage-listed pub.
Mr Handy said the hotel required extensive restoration and rectification and interested parties needed time to talk to consultants and Upper Lachlan Shire Council to "arrive at a number".
Agents then decided to auction the pub.
Speaking after the auction and before the sale, Collector district resident Jeanette Sheridan said the hotel had potential as a food destination, with the right buyer.
"It's a beautiful building with a lot of history and it's a shame to see it closed," she said.
"A building of that age needs to be occupied, otherwise it will deteriorate quickly. It would be lovely to see it occupied."
The hotel has had a potted history. It has endured several periods of closure including in 2000-01 before David Blankley and his partner Kathy bought the property. They set about refurbishing the historic landmark.
A succession of owners, including Guy Filmer and Grahame O'Brien, who bought it in 2008, have come and gone.
Mr Handy said well-located hotels "with strong real estate fundamentals continue to attract excellent interest in prosperous regions." This translated to an "immediate upside" for regional pubs.
