Mandala invests $17.5m in regional accommodation

Mandala Asset Solutions has made its debut in the Western Australian property market after purchasing two regional accommodation properties for $17.5 million.

The NSW-based company bought the Mantra Bunbury Lighthouse, previously known as the Quality Hotel Lighthouse, for $14.3 million from JV partners Brian Benari, Simon Berns, and Simone Investments, according to CoreLogic. 

In addition, Mandala has agreed to buy Albany’s Ace Accommodation, at 314 Albany Highway, for $3.15 million, from King Kong Enterprises Pty Ltd.

Mandala struck a franchise agreement with Australian hospitality company Accor for the rebranded Mantra hotel, located at 2 Marlston Drive, Bunbury.

CBRE’s Ryan McGinnity and Chloe Mason brokered the deal. 

Mandala principal John Zeckendorf said the company planned to upgrade the seaside hotel’s facilities and complete an overall facelift on the property.

The 4.5-star hotel has 71 rooms and suites, a conference space with a capacity for 425 guests, an onsite restaurant and bar and leisure facilities including an indoor swimming pool, sauna and spa.

Ace Accommodation in Albany has 56 rooms, bar, restaurant and room service.

The $3.15 million Albany deal was agreed upon following an off-market negotiation.