Liverpool pub sale the biggest of the year
The De Angelis family has paid $43 million for Liverpool’s imposing Macquarie Hotel in the biggest pub sale for the year so far.
The multistorey venue on a 1062-square-metre land holding at 269 Macquarie Street in the Liverpool CBD was the final asset of the private-equity-backed Monarch Hotels fund, led by Joel Fisher and James Smithers.
It last traded for $34 million in late 2016.
For the well-connected De Angelis family – family matriarch Robyn De Angelis is the sister of Financial Review Rich Lister and fellow pub baron Arthur Laundy – a global pandemic proved no inhibitor to its expansion plans, having negotiated and concluded the acquisition of the Macquarie Hotel during COVID-19.
Last November, the De Angelis family spent $65 million buying the Ingleburn Hotel and Raby Tavern in Sydney’s south-west to add to a portfolio that includes Uncle Bucks Hotel in Mount Druitt, bought from the Lantern Hotel Group for $25.3 million in 2016, as well as the Moorebank Hotel, Green Valley Hotel, Picton Hotel and Bath Arms Hotel.
The Macquarie Hotel includes a bistro, 17 hotel rooms, a bottle store, function space and 30 electronic gaming machines.
HTL Property directors Dan Dragicevich and Andrew Jolliffe negotiated the sale of the hotel on behalf of Monarch Hotels. HTL also secured the sale of Monarch’s other Sydney venues, the Banksia, Belmore and Lidcombe hotels.
“We’re pleased to have delivered our client another benchmark sale, and one which serves to support our consistent and public advocacy for the comparative attractiveness of the hotel property market in times ofbroadscale uncertainty,” said Mr Dragicevich.
“The Liverpool CBD and broader local government area is particularly highly sought-after by local and interstate investors,” he added.
Mr Jolliffe said the sale of the Macquarie Hotel was conceived at the onset of the present pandemic disruption, and successfully concluded within the same period.
HTL had sold 25 properties in 2020 worth $292 million.
