CEL makes foray into Australian hotel market with The Sebel Mandurah
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CEL makes foray into Australian hotel market with The Sebel Mandurah
Singaporean owned CEL Australia has purchased The Sebel Mandurah – a 4.5 star waterfront hotel in Perth’s southern suburbs – for $15 million, brokered by CBRE Hotels, in conjunction with JLL Hotels and Hospitality Group.
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SuppliedSebel Mandurah -
SuppliedSebel Mandurah -
SuppliedSebel Mandurah -
SuppliedSebel Mandurah
Singaporean owned CEL Australia has purchased the The Sebel Mandurah – a 4.5 star waterfront hotel in Perth’s southern suburbs – for $15 million.
CBRE Hotels and JLL Hotels and Hospitality Group negotiated the sale, which also included the ground floor freehold of The Peninsula Bar & Restaurant.
Operated by AccorHotels - Asia Pacific’s largest hotel operator - the 84 key hotel 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.
JLL Hotels & Hospitality Group introduced CEL Developments to The Sebel Mandurah following their purchase of Grand Park Kodhipparu, Maldives earlier this year in a deal also brokered by JLL.
JLL Hotels & Hospitality Groups Vice President, Andrew Langsford said “This transaction demonstrates how our unrivaled cross-border relationships and connectivity through one dedicated Asia Pacific team is of benefit to our clients.”
CEL Australia, which has a large portfolio of residential developments in Australia, is a wholly owned subsidiary of the Singaporean-listed Chip Eng Seng Corporation Ltd.
CBRE’s Aaron Desange commented on the transaction: “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.”
CBRE’s Ryan McGinnity added: “The hotel has established itself as the leading offering in this market and with the tourism sector continuing to expand in Western Australia, The Sebel Mandurah is well positioned to take advantage of this.”
Located within close proximity to numerous bars and restaurants, and with the comfort of modern rooms with expansive views, The Sebel Mandurah achieves one of the highest occupancy and average daily rates of all competing hotels in the region.
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