It was listed on website domain.com on November 5, at a guide price of $550,000.

There is an opportunity for someone to continue with the “grand” plans of the restoration of the hotel, said real estate agent Paul McIntosh of Ray White Goulburn.

It also comes with an unrestricted licence, he said.

The 18 bedroom hotel had been recently purchased by Peter Griffiths who also owns Tattersalls in Goulburn.

Development applications had been submitted to the council with the proposed “grand” architectural plans.

The $1.8 million redevelopment that included a modern accommodation wing, and restoration of the old balcony, as well as an outside area, and internal renovations.

It is an icon in the region and we wanted to bring it back to life, Peter Griffiths told the Crookwell Gazette in October.

The restoration of the verandah had already received a grant to the tune of $100,000, said Mr Griffiths. 

These plans are still pending approval by the council.

Commercial Hotel has proposed a modern design for the new accommodation wing