This article is from the Australian Property Journal archive
ING Real Estate Entertainment Fund has bought the licensed freehold interest in the Bowral Hotel in Bowral, New South Wales for $6.2 million.
The Bowral Hotel is located at 408–412 Bong Bong Street in Bowral, 120 kms south of Sydney.
The fund has entered into an agreement with the Feros Group for a new 15 year lease commencing at settlement. Settlement of the acquisition is expected in September 2006.
“Management is pleased to announce its third transaction with the Feros Group, following the success of the Terrey Hills and Annandale acquisitions,” IEF’s chief executive Daniel Hargraves.
“The Bowral Hotel is a high quality asset in a prominent location with substantial potential for further growth, which will benefit both the Fund and the operator,” he added.
By Adam Parsons
