The Mercer
29號 Jervois Street, Hong Kong, Hong Kong Island, 1000, HK
55 units
Asset Description
Prime hotel in East Kowloon invites Expression of Interest
Given the overwhelming responses to the Expression of Interest, we will proceed with a Public Tender.
All Public Tenders should be submitted to JLL by 3pm on 19th November 2024 (Tuesday)
Venue: JLL 7/F One Taikoo Place
- Site Area: 19,050 sq. ft.
- Approved GFA: 235,300 sq. ft.
- Existing Usage:
- 1/F & 2/F: Restaurant
- G/F: Shops, CPS and loading / unloading bays
- Hotel license No.: H/3939
- 598 guestrooms (As per the Approved Building Plan)
...
Attributes
Building area net
235,300 sf
Year built
2007
Land area gross
19,050 sf
Media
Investment Highlights
- Prime hotel suitable for a mixture of student accommodation + short stay guests + long stay occupants.
- Strategically located in Kowloon East CBD2 Kwun Tong to serve accommodation requirements for students attending Polytechnic University, HKUST, Metropolitan University and City University.
- Corner site with area of 19,050 sq.ft., approved GFA of 235,300 sq.ft., providing 598 guest rooms with potential to accommodate an optimal of 1,318 student bed spaces after conversion.
- Conversion to student accommodation featuring "hubs" of social interaction and shared facilities: 9-12 months conversion period with achievable mid-teens IRR p.a. and equity multiple of 2x assuming 5-year holding period.
- Full Kai Tak Cruise Terminal view starting from the 15th Floor and unobstructed harbour view starting from the 20th Floor.
Contact brokers
SOLE AGENT - Hotel COZi Harbour View, 163 Wai Yip Street (0 Properties)
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Last updated
5 Nov 2024
