Tamworth commercial real estate: $16 million in businesses to go under the hammer

Established and much-loved businesses are up for sale, including Carmen's A Little Taste of Italy and The Oasis Motel, home to Tamworth's notorious wet t-shirt contest.

Joyce and Des Gilfillan have owned The Oasis for 26 years and are finally selling up to enjoy their retirement.

"It was auctioned in May and we sold our poker machines at Christmas time, there has been a fair bit of interest," Mrs Gilfillan said.

There are a slew of commercial properties on the market, including Tamworth Services Club, Club Synergy Gym and Heemskerk's Nursery.

The legendary Locomotive Hotel went to auction in Sydney on Tuesday and is in negotiations.

Moteliers can take their pick of The Stockman's with a 30-year lease of Carmen's restaurant, The Billabong and Town and Country.

On the flip side there has been strong interest for commercial property from buyers who have been priced out of metropolitan markets, Ray White Tamworth director Malcolm Campbell said.

"There's really strong interest landing on my desk from buyers looking for commercial properties up to a couple of million," he said.

"Not only in commercial but for the whole marketplace I think 2020 will be a good year on the back of the rain.

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"This time last year we were in the thick of banking royal commission and a federal election which always stops things - then the drought really kicked in so 2019 was a tough year."

Mr Campbell said vendors are willing to give good deals to secure tenants.