Suburban Brisbane Sebel trades for $22.4m
Alivio Group has swooped on a near-new Sebel branded hotel in Brisbane’s north east.
The four storey, 56 room asset on the ocean front at 1 McCulloch Avenue, Margate Beach, cost $22.35 million (or $399,107 per key).
Occupancy is consistently over 75 per cent, JLL marketing agent, Gareth Closter, said.
Alviro will continue to operate the hotel under the Sebel brand through a franchise agreement with Accor, he added.
The hotel has recently undergone a $3.5m refurbishment.
Sunny’s occupies the food and beverage component, otherwise, the property was offered with vacant possession.
“We are extremely excited to add to our portfolio with another transaction in Queensland,” Alivio Group founding partner and managing director, Mark Whitby, said.
“South East Queensland in particular has been on our radar for some time and the Sebel Margate Beach really stood out to us,” he added.
“Given the quality construction and the limited branded hotel stock in the region, [it] warranted its premium sale price,” according to the executive (story continues below).
Mr Closter added the Sebel Margate Beach is “the closest branded hotel to the home of the most recent team added to the NRL, the Redcliffe Dolphins, which is a reflection of the growth of the region”.
“The Redcliffe Peninsular is experiencing an undeniable period of growth,” he added.
“In addition, there is almost no genuine hotel product in the region, leaving visitors to the region with limited options,” according to the executive.
The vendor was Traders in Purple, which developed the property and have operated it since.
“The Sebel Margate Beach has a highly professional team of staff, many of whom have been at the property for several years, and the property was offered with this infrastructure in place for an incoming purchaser,” Mr Closter said.
“We are witnessing a growing trend of purchasers amalgamating assets in a market that was traditionally dominated by private investors with fragmented ownership in this asset class,” he added.
Margate Beach is about 30 kilometres from the CBD.
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