There has been plenty of speculation in recent times about the future of the hotel but it was put to rest in a post on the Eddy's official Facebook page past week

"The rumours are true ... The beloved Eddy has been sold!" the post stated.

The pub has been purchased by locally run MPK Hotels, adding to their growing local presence which also includes the Hotel Dudley on Stewart Street.

The two-storey hotel in the centre of Bathurst's William Street is set to be restored to full trading hours, according to PubTIC an independent publication for Australia's pub industry.

Nelson Kelly's MPK Hotels purchased the site from Ash Lyons of Lion Majestic Hospitality Group, who still owns the Oxford Hotel, in an off-the-market sale.

Both pub owners declined to speak to the Western Advocate, but Nick Butler of MPK Hotels told PubTIC that Kelly has big plans for the hotel which was purchased within just 10 days.

"He's consolidating his presence in the area to bolster efficiencies," Nick Butler told PubTIC.

The Edinboro Castle has recently only traded occasionally for functions and events, but there are reports the new owner will revive the pub back to normal weekly trading hours.

MPK Hotels are said to be undecided about other plans for the pub, which has masses of potential from its prime location to its beer garden and upstairs accommodation.

"We have heaps of ideas, but haven't got any rock-solid plans for the Eddy yet," Kelly told PUBtic.

Along with the premises, the purchase reportedly included seven gaming machine licences, five of which are leased to a Sydney pub for the next 18 months.

While the Edinboro Castle is still in the hands of the Oxford Hotel owners they will host a Closing of the Eddy party before handing over the keys for good.

The party will be on May 4.