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News release


Perth waterfront hotel sells

The Sebel Residence East Perth sold for $19.2 million

​Perth, 12 November 2013 - The Perth hotel investment market has witnessed continued strength through 2013 with another sale recently completed. The Sebel Residence East Perth has changed hands for $19.2million selling to East Perth Hotel Adventure Pty Ltd - a private offshore investor looking to expand their portfolio of Australian assets. The deal was negotiated by Aaron Desange, Senior Vice President, Investment Sales of Jones Lang LaSalle's Hotels & Hospitality Group.

The hotel has established itself as one of the city's leading serviced apartment offerings with a superb guest product and convenient corporate and leisure location. Hotel facilities include 57 well designed and contemporary guest rooms, gymnasium, conference room and basement car parking.

Forming part of a larger mixed use development, the hotel enjoys a prominent waterfront position in East Perth overlooking the Swan River and Claisebrook Cove, a location that has become one of the most vibrant entertainment precincts in Perth.

"The marketing campaign attracted wide ranging enquiry from both domestic and international investors that are focussed 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," said Mr Desange 

The offshore purchaser understood the hotel's unique location that is set to benefit further from a number of large scale projects that are currently underway in the Eastern corridor of the Perth CBD including the Belmont Park Redevelopment, Perth Stadium, Crown Casino expansion and MRA's Waterbank precinct.

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