A development set to become Wagga Wagga's largest hotel is expected to generate offers in excess of $45 million after being put on the market through Savills.

Part of 'The Mill' mixed-use development, Holiday Inn Hotel & Suites, Wagga will feature a 130-room new build hotel, plus an additional 18 suites contained within the heritage-listed Flour Mill.

Intercontinental Hotels Group (IHG) will operate the hotel - which is expected to be fully operational by January 2022- under a 15-year management agreement.

At a glance: 

• The Holiday Inn Hotel & Suites, Wagga - set to be completed in 2022 - is for sale via an expressions of interest campaign closing on September 17, 2020.
• The venue will feature a 130-room new build hotel, plus an additional 18 suites contained within the heritage-listed Flour Mill.
• The property is being marketed by Savills Australia's Ian Hetherington, Tim Grosmann, Jordan Lee and Andy Hu.

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Source: IHG

The building is for sale exclusively through Ian Hetherington, Tim Grosmann, Jordan Lee and Andy Hu of Savills Australia.

Mr Hetherington said interest in the Riverina region was well positioned to bloom as billions of dollars previously spent on outbound tourism was redirected into the domestic market

“Travel is deeply ingrained within the Australian culture and has historically proven itself to be resilient against sluggish wage growth and decreasing disposable income” he said.

"As Australia continues to ease restrictions and domestic tourism resumes, markets like Wagga Wagga and the wider Riverina catchment across NSW are best placed to capitalise on growth as stir-crazy Australians show a renewed interest in their own backyard.

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Source: IHG

"In 2019, Australians spent $62.3 billion on 9.9 million trips overseas, presenting regional tourism markets with a unique opportunity to capitalise on spending previously allocated to outbound travel."

Situated in one of Wagga Wagga’s most iconic locations, the development will incorporate two restaurants, a large first-class function space and parking for 175 cars.

As the the largest inland city in New South Wales, Wagga Wagga is an important agricultural, military and transport hub, and has been identified by the state government as an area of significant population and economic growth.

The Holiday Inn Hotel & Suites, Wagga Wagga is for sale through expressions of interest, closing on September 17 2020.

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