Grong Grong Residents Partner to Buy Royal Hotel | Announcer of the day


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A town in the Riverina is coming together to buy a pub, and they hope others in the area will join in the ‘Australian dream’. The community of Grong Grong is working on the purchase of the Royal Hotel, establishing a fixed unit trust. The team behind the initiative is raising capital by calling for investment blocks of $ 5,000. Their final goal? To make it a destination as part of their journey to rebuild the city. Cain Gawne, a resident of Grong Grong, said he knew nothing of what had been done before. He said the current owners moved here two years ago and were looking to sell it, adding that a common talking point was that a local should buy it. “So we decided why we shouldn’t buy it,” Gawne said. “We want people here, in Wagga, and even in Newcastle, Sydney and Melbourne to buy a share because it’s part of the great Australian dream of owning a pub.” You can buy a $ 5,000 block as a share. as an individual or in a group, then it is led by a board of directors made up of the five co-founding members, then five representatives voted. have raised sufficient capital. The plan is to start renovations immediately and create a family environment that still feels like a real country pub. Mr. Gawne said the keyword is “destination”. “To support a pub in a small town, the population of Grong Grong is only around 250, you need a cohesive business,” he said. “The goal is to make it a destination so that you can support coming from out of town, especially the people who helped buy it in the first place. “You can patronize your own pub.” Mr. Gawne said Grong Grong is a “unique city” with a large group of inhabitants. “The best thing is the community spirit and the people there,” he said. “It’s a rare opportunity, and we would like to see everyone jump on board. ”For more information on the initiative, click here. Our reporters work hard to provide local and up-to-date news to the community. Here’s how you can continue to access our trusted content:


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