Ingleburn Hotel sells for $30m

The Ingleburn Hotel in Sydney has changed hands for the first time in 60 years, selling for nearly $30 million to a family run group.  

Bonnie Hotels group, which is owned by Marc and Meg DeAngelis, paid $29.25 million for the hotel in Sydney’s southwest from the Morgan family's Irene Collins Nominees. The latest acquisition follows hot on the heels of their $35 million purchase of the Raby Tavern and shopping centre.

The Ingleburn Hotel has 27 gaming entitlements and permits, and consistently ranks among the top 80 gaming venues in NSW.

The property covers 2239 square metres and is included in the proposed Ingleburn Precinct Plan as a future high-rise development site.

“This is the third top 200 ranked hotel sold in Sydney in the past fortnight representing over $87 million of transactions, so the rapid consolidation continues in this rarefied asset class," said JLL's John Musca, who marketed the hotel.

Sheridan Randall, 18^th November 2019