The Sebel Canberra Civic, as seen from the Constitution Place plaza, is expected to bring $50 million. Photo: Colliers.
The 144-room Sebel Hotel is on the market just six years after opening at its prime Civic address in 2019. It is expected to attract strong interest from other hotel operators or even a buyer looking to adapt it for another use.
Located at 197 London Circuit opposite the Legislative Assembly in the heart of the city, the Sebel Canberra Civic occupies levels 1-9 of the 10-storey building with 144 upscale, self-contained apartment-style guest rooms.
The property has a commercial office tenant on level 10, a cafe and the Clover Dining restaurant on the ground floor, a gym and basement parking.
The Colliers hotels team of Karen Wales, Jackie Su and Sam Abel, as well as Matthew Winter in Canberra, are marketing the property on behalf of a European real estate investment manager. They expect a sale price of $50 million.
Colliers said the property provided the perfect blend of prime location, stable income, potential for growth, diversity, and capacity to reposition.
It is understood that the owner is redirecting its investments elsewhere as the hotel is a non-core asset.
Ms Wales said the hotel was in near-new condition and being sold on a fully tenanted leaseback basis, but offers that had another purpose for the building in mind would also be in the mix.
“Bids will also be considered on a vacant possession basis should purchasers wish to implement an alternative management structure or undertake conversion to an alternate use, making this a very versatile offering in the heart of the Canberra CBD,” Ms Wales said
Mr Su said the buyer would have little to spend on the property in the medium term.
“The combination of location, stable income and ability to reposition makes this an outstanding opportunity,” Mr Su said.
Mr Abel said a buyer could capitalise on the hotel’s premium location in the national capital to enhance its position in the market.
“Given the premium location of the asset, the opportunity for the hotel to become a market leader is extremely compelling,” he said.
“Being the political centre of Australia, the region is underpinned by robust base demand across both corporate and leisure segments.”
Colliers said the Canberra hotel market continued to lag behind other state capital cities when it came to internationally branded accommodation offerings, comprising a high proportion of local and domestic brands.
The building itself is highly rated for energy and water use efficiency.
Sebel Canberra Civic was one of only 90 hotels in Australia to earn a NABERS 5-star energy rating and 4.5 stars for water at the end of the 2024 financial year.
The property has a long-term lease and property management agreement with hospitality investment and asset manager Pro-Invest Group as the tenant, with a franchise agreement between the tenant and Accor Hotels under the popular Sebel apartment brand.
Pro-Invest Group has 31 hotels under management in 15 cities across Australia and New Zealand. Accor is one of the largest hospitality companies globally and a leader in the Asia Pacific.
The Sebel Canberra Civic Hotel is for sale via an Exclusive Invitation Only International Expressions of Interest (EOI), closing Monday, 23 June.
