Hotel group buys two Macarthur venues in two weeks

The Ingleburn Hotel is no longer on the market.

The pub was sold today before its planned auction for $29.25 million, a 3.4 per cent yield, through JLL Hotels and Hospitality Group.

The Bonnie Hotels group - owned by Marc and Meg DeAngelis - are the proud new owners of the venue.

The DeAngelis family also picked up another piece of Macarthur real estate last week.

They parted with $35 million for the Raby Tavern and shopping centre.

This was the first time the Ingleburn Hotel had been on the market in 60 years. It ranks among the top 80 gaming venues in NSW.

JLL national director John Musca said it was a good time of year for hotel sales.

"This is the third top 200 ranked hotel sold in Sydney in the part fortnight, representing over $87 million of transactions, so the rapid consolidation continues in this rarefied asset class," he said.

The 2239sqm property features in the proposed Ingleburn Precinct Plan as a site for future high-rise development to accommodate the expected population growth in the area.

This story Hotel group buys two Macarthur venues in two weeks first appeared on Campbelltown-Macarthur Advertiser.