The George IV Inn has an auction date

Picton’s iconic pub will go under the hammer on May 31.

Real estate agents Ray White Hotels will run the public auction for the George IV Inn at 10am.

The pub has been closed since last June when floods extensively damaged the hotel.

Insurance company Assetinsure denied the pub’s claim in January.

Current owner Patrick Moloney said he went with auctioneers Ray White Hotels because they were specialists in marketing and selling hotels.

“They are experts in the market place,” he said.

Mr Moloney said he had mixed feelings about selling the pub.

“On one hand I am losing a hotel that I have worked hard to build up from a run down pub into a vibrant venue,” he said.

“Due to the conduct of the insurance company, I have been forced to sell.

“On the other hand I don’t like to see the hotel sitting there idle, especially because of its age.”

Mr Moloney said he expected the auction would be a hard day.

He said the George had a rich history.

“The pub has a mixed clientele who have a good time and in the long term there is potential to develop the hotel because it is on a large site,” he said.

Mr Moloney has been humbled by the love the community have soon towards the George.

“The love affair with the George is strong with locals and it extends beyond them with people outside the area. There is a real lofve for the venue.”