Sebel Residence changes hands for $19.2m

The Sebel Residence East Perth has been sold to an offshore investor for $19.2 million.

Jones Lang LaSalle’s Aaron Desange brokered the deal for the 57-room, mixed-use hotel that overlooks the Swan River and Claisebrook Cove.

“The marketing campaign attracted wide enquiry from both domestic and international investors that are focused on acquiring mid-scale hotel assets in Australian capital cities. Notably the number of investors, many of whom are well capitalised and new entrants to the market, has increased significantly over the past six months,” Mr Desange said.

The offshore purchaser is said to understand the hotel’s unique location may benefit from a number of large-scale projects under way in the eastern corridor of the Perth CBD.

“This sale reflects the continued strength of the Perth hotel market supported by the longevity of the resources sector in Western Australia,” Mr Desange said.