The Taphouse Hotel Group, which is based in Queensland, has purchased the hotel.

Patrons will fondly miss the Star, which is known for its fantastic atmosphere, live music, events and its food.

Former owner Helen and her late husband Jim Ylias, on behalf of the family, want to wish the Wauchope community well following the sale of the hotel. Helen and Jim owned the hotel for 25 years before the sale.

"Our family sold the hotel and business on February 1, 2016 and we would like to thank all our patrons and suppliers that have supported the business over the past 25 years," a statement from the family said.

"The present closure of the Hotel was a decision taken by the new owners."

The Taphouse Hotel Group has cemented itself as one of the strongest hotel chains throughout the Coolangatta and Tweed region and will now venture into the Mid-North Coast market it seems.

Former manager John Monaghan reflected on the hotel's closure and made contact with the Wauchope Gazette to express his thoughts on his much loved former place of employment.

"Since its closure, I've personally received an enormous about of attacking, concerned, worrying and sad messages not directed at me, but in general," Mr Monaghan said.

"All of this seems to be from its seemly permanent closure and the loss of one of the Mid North Coast's live music venues."

Mr Monaghan believes national and international musicians and bands were booked six months in advance including the likes of Phil Emmanuel who plays there regularly.

"No accommodation, no more sponsorship opportunities, no poker nights or meat raffles will have an impact on the community," he said of the yet to be determined future of the site.

The Wauchope Gazette has been unsuccessful in attempting to confirm what the future of the site will hold, however one source believes it could be converted into student accommodation.

"With all truths and fiction aside, we have lost Wauchope's true local live music hotel," Mr Monaghan said.

"The town remains confused and angry about it. It's the ultimate talking point at the moment.

"I can't walk down the street today without being confronted about 'what's happened to the Star?'."

The Gazette has received in influx of comments regarding the Star with one patron stating that "it is truly sad to see the closing of the Star".

Another long time Comboyne and Wauchope local Brian Hurrell said he has fond memories of the Star from his younger days.

"I don't really go there anymore but when we were young blokes we use to go there all the time," he said.

"I think if some investors where to come in it could be really good for the town."

At time of print, efforts to contact the Taphouse Hotel Group remained unsuccessful.