Standing on the busy corner of Marius and Brisbane Street, the hotel once boasted elegance and charm with wrought iron and verandahs encapsulating the brick building that housed 60 rooms, a kitchen and underground cellar.

With its doors closed to the public for over a year, local historian Melinda Gill from the Tamworth Historical Society said the sale presented the perfect opportunity to revitalise the hotel's old school glamour.

"You see some of the early pictures and the building was absolutely gorgeous," she said.

"As a historian you hope that people will see it for what it could be and what it was, and keep it that way."

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The building has been advertised as every hotel owner's dream with accommodation, restaurant, and kitchen areas ready to be brought back to life.

Raine and Horne real estate agent Bob Newlan said although it had served well as a hotel, the prime piece of land could be reimagined as office spaces, or more simple accommodation.

"It's biggest asset is its location," he said.

"It's CBD real estate, it can be done for anything."

With its attractive location and limitless potential, Ms Gill hoped the hotel would fall into the hands of the right owners.

"You would hope they wouldn't do anything they shouldn't do," she said.

"You always want it to be continually in use, being maintained and for everyone to enjoy as they drive past."

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