This article is from the Australian Property Journal archive
SINGAPORE’S Chip Eng Seng has snapped up The Sebel Mandurah hotel and restaurant for $15 million.
Built in 2009, The Sebel Mandurah is a 4.5-star hotel offering 84 rooms, business & conference facilities, swimming pool, gymnasium and BBQ area.
The property is managed by Accor. The hotel is part of a mixed-use Point Residential Apartments development that comprises three multi-level towers with more than 100 luxury apartments overlooking the canals, marina and Indian Ocean.
The purchase also includes a waterfront restaurant with lettable area of approximately 1,676 sqm. It is currently leased to a restaurant owner, operating under the name of The Peninsula Bar & Restaurant (“The Pen”).
“We are delighted to acquire Chip Eng Seng’s third hospitality property as part of the Group’s strategy to expand our hospitality investment portfolio,” executive chairman Raymond Chia said.
JLL’s Andrew Langsford and CBRE’s Ryan McGinnity handled the sale.
This is the third time the property has changed hands in recent years. The hotel was sold by Accor Asia Pacific in early 2013 to entities associated with Perth-based FJM Property.
Accor bought the asset from Mirvac in 2012 as part of a portfolio acquisition.
Australian Property Journal
