$6 million paid for freehold Wodonga hotel
Staff reporterDecember 7, 2020
The Blazing Stump Hotel, Wodonga has been sold for $6 million - reflecting a regional hotel yield of 6.76%.
CBRE sold the freehold building at 4327 Anzac Parade, on behalf Wodonga Holdings Pty Ltd.
The property was purchased by a high net-worth local investor looking to expand and diversify their property portfolio.
The gaming hotel investment has a site area of 5,708 square metres just minutes from the Wodonga CBD.
It is subject to a long-term lease with a commencing annual income of $406,000 per annum.