Singapore group pays $15m for Perth’s Sebel

A Singaporean-owned group has paid $15 million for Perth’s 4.5-star waterfront hotel, the Sebel Mandurrah.

CEL Australia picked up the 84-room hotel, which forms part of a larger mixed-use development, comprising three residential towers with more than 100 luxury apartments.

The sale also included the hotel’s ground floor eatery, The Peninsula Bar and Restaurant.

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CBRE Hotels and JLL Hotels and Hospitality Group negotiated the sale, which marks CEL Australia’s first hospitality purchase in Australia, and comes after its recent deal to buy the Grand Park Hotel in the Maldives.

CBRE’s Aaron Desange says most of the serious interest in the Sebel came from offshore.

“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 hotel is leased and operated by AccorHotels, and enjoys views over the surrounding canals, marina and the Indian Ocean.