Owner Lydia Nettlefold decided to sell after spending 13 years restoring the complex and running the inn and its associated outbuildings, listing agents David Webster and Rodney Rawlings said.

"It has been lovingly redeveloped and restored," Mr Rawlings said.

"It has been upgraded to the highest possible standard. Everything is in keeping with its time."

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Within weeks of listing the historic property there was interest from potential Tasmanian and mainland buyers, but Red Feather Inn is "still on the market".

"There has been some really strong interest from some locals, but the majority has been from the mainland," he said.

The original Red Feather Inn opened in 1844.

The Georgian property - spanning almost 8000 square metres on five freehold titles between 42 and 50 Main Street - is a luxurious accommodation business, restaurant, function centre and cooking school.

This complex includes the three-storey Inn, Old Gaol and Watchhouse cottage, all of which are heritage listed, along with Pearce's Cottage, a cooking school, function centre, administration building, stables, barn and landscaped gardens.

"There's lots of room to expand. There could be more accommodation with the other cottages and the cooking school, you could increase the functions - the sky is the limit," Mr Rawlings said.

Red Feather Inn is for sale by expressions of interest, but Knight Frank would not specify a price range.

"There is no guide price. That's why we're selling by expressions of interest," he said.

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