A large format hotel north-west of Sydney has been sold in what is reportedly one of the first hotel transactions to occur following the easing of COVID-19 restrictions in the state.

HTL Property's Dan Dragicevich, Andrew Jolliffe and Sam Handy negotiated the sale on behalf of longtime owners, the De Angelis family, who operate a portfolio of hospitality properties throughout greater Sydney, including the Bath Arms Hotel (Burwood), Macarthur Tavern (Campbelltown), Green Valley Hotel (Miller) and Raby Tavern in Sydney's South West.

The De Angelis family were also the successful purchaser of the Macquarie Hotel in the Liverpool CBD last month.

At a glance: 

• The Bligh Park Tavern in Greater Western Sydney has been sold through HTL Property, on behalf of the De Angelis family.
• The venue comes with bar, gaming, wagering and bottle shop contributions and was ranked 475 in the June 2020 gaming rankings.
• The sale was negotiated through Dan Dragicevich, Andrew Jolliffe and Sam Handy.

Pete De Angelis said the family had "thoroughly enjoyed" its association with the area of Bligh Park throughout the past 18 years.

"We sincerely wish the purchasers every success and thank the HTL team for their tireless efforts to achieve a result that is testament to our tenure in the asset”  he said.

Positioned within an exclusive catchment of 12,250 residents, the Bligh Park Tavern comes with bar, gaming, wagering and bottle shop contributions.

The hotel features 21 gaming machine licences and was ranked 475 in the latest June 2020 gaming rankings. 

Mr Handy also noted the significance of the venue's location.

"(The Bligh Park Tavern) is strategically located at the Northernmost tip of the North-West Sydney growth corridor, which will see some 33,000 new homes delivered in order to accommodate over 250,000 new residents," he said.

Mr Dragicevich said the sale reinforced the industry’s resilience in the face of the global health and economic crisis.

"Sales such as this demonstrate clearly that valuations have held up strongly over the period and there is well and truly still an equitable and liquid market for vendors and purchasers to participate in”  he said.

Mr Jolliffe agreed, adding that hotels' dynamic response revenue levers, such as food, beverage and gaming meant they could "very rapidly" become cash flow generators;

"This is why hotels have enjoyed a first mover benefit over other share of dollar competitors operating upon the national hospitality and leisure asset landscape," he said.

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