The Weatherall family's association with Wodonga pubs dating back more than 80 years has ended.
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Elgins, originally known as Wodonga Hotel, has been sold for an undisclosed price to the Black Rhino Group of pubs in a deal more than a year in the making.
The hotel's 70-plus staff were informed of the sale yesterday.
Tom Weatherall and his sister Liza have co-owned the pub since their father Vyv died in 2015, aged 81.
"It is a very emotional time for what has been a family tradition coming to an end," Mr Weatherall said.
"But you need to get out on your own terms.
"There isn't an obvious succession plan in place for a family member to continue running the hotel."
Five generations of the family have worked at Elgins beginning with Tom's great-grandmother Emily, who worked for her daughter Irene, who was married to Martin Weatherall.
Martin and Irene purchased the liquor licence for the former Halfway Hotel located on the Lincoln Causeway before transferring it to Elgins, which was built in 1938.
The hotel was used for soldier accommodation during World War II and experienced a boom period when Wodonga saleyards were located across the road.
The Steak Pit restaurant, the brainchild of Vyv's wife Beth, opened in 1971.
Irene House behind the pub also was constructed in the 1970s when Albury-Wodonga had been identified as a National Growth Centre by the Whitlam Labor government.
Elgins was also formerly home to well-known Wodonga nightclub Bubbles and played host to leading bands including Sherbet and The Saints and well-known performers, Jimmy Barnes, Blondie and Suzie Quatro.
Irene House also had various uses including wedding reception venue, nightclub named Pulse and a temporary Catholic school.
The hotel underwent another major transformation in the 1990s and grew to be the biggest pokie venue in Wodonga with 80 machines presently.
"It will be sad to say good bye to all the history and memories," co-owner Liza Feeney said.
"So many people have been a part of this story.
"There are so many stories and memories attached to this place it would be wonderful to have some recorded."
Tom Weatherall returned from Sydney in 1990 to manage Elgins,
His father Vyv also established a masonry business on the Lincoln Causeway in 1962 to meet demand for a rapidly growing city.
He also had other business interests in Albury including the former, The Village shopping centre in Young Street.
Bricks from the masonry were used to help upgrade the hotel in the 1970s.
The Black Rhino Group has 17 pubs and two nightclubs in Melbourne and regional Victoria including Shepparton's Victoria Hotel and the Richmond Social.
Deborah Mathieson-Tomsic, the daughter of pub baron Bruce Mathieson, co-owns Black Rhino Group with her husband, Dave.
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