Offshore buyer grabs Sebel Residence for $19m

One of Perth's leading hotels, The Sebel Residence East Perth, has been bought by an offshore investor for $19.2 million.

Forming part of a larger mixed-use development, the hotel overlooks the Swan River and Claisebrook Cove, one of Perth's entertainment precincts. It includes 57 guest rooms, a gymnasium and conference room and has serviced apartments booked by tourists and corporate stayers.

The deal was brokered by Aaron Desange of Jones Lang LaSalle.

Mr Desange said the property attracted domestic and international interest.

It is understood that the buyer, who declined to be identified, was a global investor looking to expand its portfolio of Australian properties. Mr Desange said the buyer already had several commercial investments and hotels in Australia.

The Sebel Residence will be held as the only asset in a company called East Perth Hotel Adventure.

Source: The Australian, 14 November 2013