Beer Deluxe building set to go to auction

The Beer Deluxe building on Kiewa Street, also known as Paddy's and the New Albury Hotel, will be auctioned onsite on March 18.

The five-storey 1939 building and land are being sold as part of a liquidation of company J&L Angius Pty Ltd in a bitter family legal dispute.

That entity went into receivership in July 2018 and receiver FerrierSilvia was appointed.

The vendor is unable to comment on an expected sale price, but industry sources say the heritage listed property could be worth $8 million to $10 million.

Poker machine licences at the site are worth $4.8 million alone.

Manenti Quinlan and Associates director Leonard Bongiovanni said the property was being sold on behalf of the Angius family in similar circumstances to the sale of Soden's last year.

"It's a massive, prominent building," he said.

"It's in a good location in central Albury and when you factor in Wodonga, it's got a huge catchment area.

"It's probably the most iconic hotel in the city."

The property is run by Australian Venue Co, which has more than 170 venues across the country.

The Kiewa Street site generates about $540,000 in rental income per year.

The company also runs the nearby Albion Hotel and The Birallee Tavern.

The sale of the physical building won't impact the way Beer Deluxe is run.

The venue has 15 gaming machines, hotel rooms, function spaces to cater for up to 800 people, and a stage for live music.

Mr Bongiovanni, who is selling the building with Border based DJ May Real Estate, said the venue had been listed for sale on Friday and was likely to attract wide interest from across the nation.

"It is a national blue chip tenant," he said.

"Regional pubs are the hub of communities and they draw a large audience.

"They're still very good, profitable businesses."

The property, originally called the Albury Hotel, was the city's first high-rise building.

Heritage NSW notes the property was built at an estimated cost of 25,000 pounds.

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"Similar public buildings ... survive in most of the capital cities, but they are exceedingly rare in country towns," the registry notes.

The family business that owns the building has been in a bitter legal dispute following the death of grandmother Laura Angius on January 4, 2012.

The family had owned the Soden's building, which sold for $5.45 million last May.

In other recent sales, The Northside Hotel sold last year for $16.2 million, and Brady's Railway Hotel sold for $9.6 million in 2020.

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