Wagga's Romano's Hotel listed for sale after five years

The Fitzmaurice Street venue last changed hands after previous owner John Hussey put the landmark up for sale in 2015.

It sold the following year before undergoing a massive $1.6 million renovation.

At the time, it was relisted for $4.25 million after passing in at auction in Sydney in April 2016. It eventually sold to the current Sydney-based owner, Gareth Collins.

Following the extensive refurbishment, the pub now has an annual revenue of around $3.2 million.

Continued unsolicited interest from prospective buyers has prompted the hotel's listing on the market.

"Whilst we're more than happy to continue operating the hotel, we have received several unsolicited approaches to acquire the hotel after the last six months and thought we should test the market with a formal process," Mr Collins said.

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Brokers HTL Property's Blake Edwards and Sam Handy are handling the sale, which they say will attract interest from regional and Sydney buyers.

Given the property's B3 commercial core zoning, 2189sqm land holding and 16-metre height approval, development potential is an "obvious" upside to the listing.

"We anticipate that there will be a mixture of local interest, buyers from some of the larger surrounding regional centres and most definitely from Sydney," Mr Handy said.

"Unequivocally, there won't be another regional pub with these core trading attributes and this level of upside coming the the market in the foreseeable future."

Romano's operates with 15 gaming machines attached to the licence, which allows it to trade to 3am.

It features a bar, bistro, gaming room, beer garden, alfresco streetside dining and first floor function rooms with their own kitchen.

The first and second floors contain 45 accommodation rooms that are unused by the current owners.

Regional pubs are experiencing a boom as buyers turn to quality in the bush as well as that in metropolitan and coastal areas, Mr Edwards said.

"With well above average transactional volumes across both metropolitan and coastal hotels over the last 24 months, the availability of quality stock is rapidly diminishing with operators now seeking quality regional assets," he said.