Iconic mining town pub sells for $150k
AN iconic watering hole is set for a new chapter after being sold for $150,000 in March.
Mount Morgan's Golden Nugget Hotel on Central St has sold to new owners Taggles Pty Ltd after being listed on the market for 169 days from September 13.
This could mean a resurgence of popularity for the pub, after it was originally listed for $179,000 having been one of the mining town's most loved watering holes in the town's hey day.
Populated with 3500 residents, Mount Morgan has seen the rise and fall of popular traders and businesses.
But this sale gives this once popular venue another chance at success.
The fully-functioning hotel consists of seven rooms on the upstairs level which are suitable for permanent or non-permanent tenants, along with a shared bathroom.
With an active liquor licence, drive-through bottlo, toilet facilities downstairs for public use and a functioning bar with kitchen containing stainless steel equipment, this property has plenty of potential.
A spacious area inside the pub is suitable for a gaming room and there is a large entertaining hall to host events and functions.
Not to forget a detached liveable donga on the premises (currently tenanted) which returns about $360 a fortnight.
The hotel had been previously run by former Mount Morgan resident, Raelea Eaton and her partner, Darren Cash.