ZACD Group has sold the Murray Street serviced apartments to Capital Bay Investment, which plans to retain the hotel’s affiliation with Accor.

West Perth’s Sebel serviced apartment building has changed hands for $18.88 million, with the property to retain its affiliation with Accor.
Capital Bay Investment has purchased the 659 Murray Street property from Singapore-based ZACD Group, who purchased it from Finbar Group for $12.5 million in 2018.
Australian Securities and Investments Commission documents show that Zhizang Zeng, of Nedlands, ultimately owns Capital Bay Investment.
The Booragoon-linked company also has links to Victoria, via shareholder Clearpath Holdings.
The Sebel West Perth contains 64 strata apartments on four podium levels of the 22-storey building, built in 2018.
It also includes a heated pool, conference room, fitness centre and outdoor dining area.
JLL’s hotels and hospitality division brokered the deal for the property on the vendor’s behalf.
JLL Hotels & Hospitality Group managing director of Gus Moors said the sale demonstrated the continued strength of Perth’s accommodation market.
“The decision to retain the Sebel brand underscores the value of its established market presence and Accor’s distribution network,” he said.
JLL Hotels senior vice president Andrew Langsford added that the property benefitted from being well located, with its brand continuity attractive for the buyer.
JLL director capital markets WA Sean Flynn, who also brokered the deal, said the transaction underscored “the ongoing appeal of Perth’s hospitality sector to investors, driven by the city’s economic growth and diverse demand drivers.”