The Yass Hotel (formerly the Royal) has once again changed hands, but this time sold to an as-yet unknown local businessman.
Sydney-based Harvest Hospitality bought the hotel about two years ago and changed its branding as a tribute to the pub's heritage.
Director of Harvest Hospitality, Fraser Haughton said the sale was at the right time for "someone to go and improve it".
"A hands-on operator will do a good job," Mr Haughton said.
"We had a great time in Yass.
"We had achieved what we wanted to achieve and it was time for us to move on to the next challenge."
The sale price guide was between $2 million and $2.5 million.
Shortly before the sale, the hotel's interior had been renovated and the external facade was also restored.
The property is over 2000 metres square with 14 first-floor rooms, a single bar, large undercover beer garden, and an indoor gaming room with nine poker machines.
CBRE Hotels spokespeople Kate MacDonald and Ben McDonald, who negotiated the sale, said the demand from a varied investor base for country or regional assets currently outstripped the supply.
"Our clients understand there is a growing expectation on the 'local pub' in country NSW," Ms MacDonald said.
"The offerings and designs are becoming just as compelling as a Sydney metro asset, only with more enticing commercial metrics."
Harvest Hospitality has also sold the Australian Hotel Motel on Comur Street for more than an estimated $3.5 million.
