The famous Scarborough Hotel, recently listed for sale for the first time in 40 years, appears to be a step closer to changing hands.
Having been listed for sale earlier this year, it has now been withdrawn from the market and previous online marketing is no longer present.
Simon Kersten, managing director of Colliers Wollongong told the Mercury they were "extremely pleased" with the level of interest in the sales campaign, and were "now working with a qualified buyer on the terms of a deal".
Read more: The famous Scarborough Hotel is for sale for the first time in more than 35 years
"An announcement will be made in due course," he said.
"We're not promoting it or marketing it, and are working with a party... It was a very busy campaign, and we fielded in excess of a hundred inquiries.
"We just want to do the best job we can, and if that takes time, that's fine."
WIN Corporation were also contacted for comment.
Situated on the Illawarra escarpment, just south of the Sea Cliff Bridge, the heritage-listed building with more than 3904 square metres of prime oceanfront land has been owned by WIN since 1983 and operates as a licensed venue under a lease agreement.
No price guide had been released, but the Mercury understands the asking price was about the $10 million mark.
The hotel boasts eye-catching views, cliff top beer garden and nearly 140 years of history.
The venue is owned by WIN boss Bruce Gordon, who is spearheading the $400 million WIN Grand development in the Wollongong CBD.
CoreLogic records show the venue is owned by Oberon Broadcasters Pty Ltd, Mr Gordon's private company.
According to the selling agents, the fully licensed venue has no capacity limit.
The property, located at 383-385 Lawrence Hargrave Drive, has a building size of 614 square metres.
At the time the property was listed, it was also said that the current tenant would consider selling the business as well as the adjoining 4321 square metre parcel of land (the adjoining carpark).
The Mercury understands this parcel of land not being part of the main property for sale may have been a stumbling block for some prospective buyers.
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