SOLD - THE SEBEL HOTEL, MANDURAH, WESTERN AUSTRALIA

​Perth, 23 January 2013 – The Sebel Hotel in Mandurah which forms part of the Point Residential Apartments, has been sold by CBRE Hotels on behalf of Accor Asia Pacific for close to AU$15m.

The buyers are entities associated with FJM Property, a well known Perth company with a list of quality hotel properties to their name.  Accor, Australia’s largest hotel operator and one of the biggest in the world, has been retained to manage the hotel for the new owner.

The property will operate under the Sebel brand, which Accor is using for its network of premium apartment-style properties across Australia and New Zealand.

The Sebel Mandurah was part of the Mirvac Hotel portfolio which Accor purchased in mid 2012. The portfolio included two freehold hotels – the Sebel Newcastle and Sebel Mandurah.  As part of Accor’s “asset right” strategy, the group decided to sell the properties, while retaining the management agreements.

The sale includes 89, 4.5 star hotel rooms and apartments plus an additional six permanent luxury residential strata apartments and ample car parking.

Mandurah, once a holiday town and fishing village has now become effectively an outer suburb of Perth being only 50 minutes from the Perth CBD and 45 minutes from the International and Domestic Airports.

Situated about 70km south of Perth, Mandurah is one of WA’s most vibrant regional cities with a strong tourist market and growing corporate activity.

Because of the impressive trading record of the hotel Accor sold the property subject to a long term management agreement and with its growing strength in the hotel apartment market and its pre-eminent sales, marketing and distribution network is confident of significantly growing the business in the future.

Rob Cross, David Kennedy and Ryan McGinnity were the CBRE Hotels agents responsible for the sale of this property.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue).  The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.