The Sebel Margate Beach has sold for in excess of $22 million, confirming a record per key rate for an Accor franchised hotel, in a sale conducted by JLL Hotels & Hospitality Group’s Gareth Closter.

“The 56 room & suite hotel struck a chord with us,given the strong demand fundamentals of the hotel,which boasts direct ocean fronting views and a rooftop bar & pool,” said Nicko Ivanov of Alivio Group.

The sale represents the second hotel that the Alivio Group has transacted with JLL Hotels & Hospitality Group, following Alivio’s purchase of the Sunshine Tower Hotel, which has recently undergone $3.5 million refurbishment ready for their rebrand later this year.

“We are extremely excited to add to our portfolio with another transaction in Queensland,” said Alivio Group’s Mark Whitby.  “South East Queensland in particular has been on our radar for some time and the Sebel Margate Beach really stood out to us,” he continued.

The Sebel Margate Beach was delivered in 2018 and,given the quality construction and the limited branded hotel stock in the region, warranted its premium sale price. 

The Sebel Margate Beach is the closest branded hotel to the home of the most recent team added to the NRL, the Redcliffe Dolphins, which is a reflection of the growth of the region.

“The Redcliffe Peninsular is experiencing an undeniable period of growth,” Mr Closter remarked.  “In addition, there is almost no genuine hotel product in the region, leaving visitors to the region with limited options,” he continued.

The F&B operations are leased out to a third party, which was attractive to purchasers who wanted to focus on the hotel operation.  The outgoing owners developed the property and have owner operated the hotel since it was completed.

Alivio Group will continue to operate the hotel under the Sebel brand through a franchise agreement with ACCOR. The Sebel Margate Beach has a highly professional team of staff, many of whom have been at the property for several years, and the property was offered with this infrastructure in place for an incoming purchaser.

“We are witnessing a growing trend of purchasers amalgamating assets in a market that was traditionally dominated by private investors with fragmented ownership in this asset class,” Mr Closter said.

The hotel trades extremely well, with occupancy consistently above 75%, at a strong ADR, which delivers a high EBITDA for a 56 key offering.  The hotel has an exceptional market reputation with strong ratings and guest reviews.  

To request more detail on the sale, please contact JLL Hotels & Hospitality’s Gareth Closter via the contact details below.