Broome resort collects $8m from fund manager
Mandala is expanding its regional accommodation portfolio in Western Australia, buying the Broome Time Resort near Cable Beach.
The freehold for 1 Cable Beach Road East cost the operator $8 million.
The complex contains 59 rooms, a swimming pool, breakfast room and meeting facilities.
The site sits between Broome’s town centre and Cable Beach, opposite the Broome Recreation and Aquatic Centre.
Elsewhere in the state, Mandala’s owns the Quality Hotel Lighthouse in Bunbury and an Ace motel in Albany.
Those assets cost a total $19 million (continues below).
All up they contain 126 rooms.
Mandala invests in regional accommodation through its Trinity-branded hospitality funds, targeting established assets in regional markets.
JLL marketed Broome Time Resort.
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