The Sebel Mandurah, a 4.5 star waterfront hotel situated in Perth’s southern suburbs, has been acquired by Singaporean owned CEL Australia for $15 million.
The company already boasts a portfolio of residential developments in Australia, but the recent sale of Sebel Mandurah marks its first local hotel acquisition.
Operated by AccorHotels, then 84-key property forms part of a larger mixed use development comprising three multi-level towers accommodating more than 100 luxury residential apartments with outstanding views over the canals, marina and the Indian Ocean.
The sale was negotiated by CBRE Hotels in conjunction with JLL Hotels and Hospitality Group, and also included the ground floor freehold of The Peninsula Bar & Restaurant.
Commenting on the sale, CBRE’s Aaron Desange said “Interest in the asset was reasonable and it was evident throughout the sales campaign that offshore purchasers for hotel assets in Western Australia remained buoyant, with a number of investors now considering alternate destinations to the CBD for acquisition”.
The transaction highlights CEL Australia’s expansion into the hospitality sector and follows the recent purchase of the Grand Park Hotel in the Maldives.