A Lismore pub that was closed more than a year ago has been sold.

North Coast Commercial Real Estate’s Chris Harley confirmed that contracts had been exchanged on the New Tattersalls Hotel “a few weeks ago” and settlement was expected imminently.

Mr Harley declined to identify the buyer and said they would make an announcement about the future use of the Keen St hotel at a later date.

“Watch this space,” he said. “Something exciting is coming to Lismore soon.”

The pub has been sold as vacant possession.

The former owners of the property, Reddew Ltd, put the property on the market around December last year.

The property was advertised with a sale price of $750,000 + GST.

“Formerly trading as the New Tattersalls Hotel, this substantial inner city property offers the astute investor a golden opportunity to breathe new life into this amazing building,” the listing said.

“Features a fully functional kitchen, three individual dining spaces and a bar on the lower level plus 22 accommodation rooms, bathroom and kitchen facilities upstairs.“

The most recent lessees of the Tatts, Rod and Kim Bradbury, announced in a Facebook post on February 19 last year they were ceasing trading citing difficulties with insurance following the flood.