29號 Jervois Street, Hong Kong, Hong Kong Island, 1000, HK

The Mercer

Asset description

The Mercer is situated in the heart of Sheung Wan, one of the oldest districts in Hong Kong, renowned for its blend of traditional Chinese and colonial architecture. This culturally diverse neighborhood offers a wide variety of dining options, ranging from local Cantonese cuisine to international delicacies, making it a paradise for food enthusiasts. Additionally, Sheung Wan embraces its artistic side with numerous art galleries and cultural centers, contributing to a thriving arts scene.

The Hotel's strategic location near the Central Business District ensures strong corporate demand, as it is in close proximity to major corporations, financial institutions, and government entities. Excellent accessibility is provided through the nearby Sheung Wan MTR station, bus routes, and trams, facilitating seamless exploration of different parts of the city.

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Attributes

Year renovated

2021

Units

Building area gross

3,524 sm

Media

Investment highlights

RARE VACANT POSSESSION INVESTMENT OPPORTUNITY

Hong Kong’s investment market is known for its scarcity of assets with long 999-year leasehold tenure. The Mercer, a property with such tenure, presents an exceptional opportunity for incoming investors to establish a presence in this coveted destination. Available with the benefit of vacant possession, incoming investors have the flexibility to brand and customize the Property according to their requirements. This will enable them to establish a strong brand presence in Asia’s gateway city.

NEWLY REFURBISHED STYLISH PRODUCT

Occupying a prime 2,530 sqft site at the corner of Mercer and Jervois Street in Sheung Wan, The Mercer is one of the most well-established serviced apartments in the area. Recently refurbished in 2021, the Hotel offers a wide range of facilities including 55 thoughtfully designed apartment units, a stylish lobby, and a modern, state-of-the-art gym.

FURTHER UPSIDE IN A RESURGENT MARKET

Since the complete reopening of borders in January 2023, Hong Kong has been experiencing a steady recovery in tourism arrivals. The notable presence of renowned events like Art Basel in March and the Rugby Sevens in April 2024 has further bolstered this trend. Additionally, the anticipation of various major events scheduled throughout the year is expected to attract a substantial influx of international travelers, reinforcing the positive trajectory of Hong Kong’s resurgence.