Invitation to Submit Expression of Interest – Hotel Ease • Tsuen Wan

HONG KONG, 7 January 2025 – JLL has been appointed as the sole agent for the sale of Hotel Ease • Tsuen Wan, located at Nos. 15-19 Chun Pin Street, Kwai Chung ("the Property"), with an estimated market value of approximately HKD 530 million. The Property presents a rare acquisition opportunity, offering significant potential for conversion into over 100,000 sq ft of private student and talent accommodation, surpassing comparable properties in both living space and ambiance.

Originally a 24-storey industrial building, Hotel Ease received approval for hotel conversion in early 2013 and commenced operations in the fourth quarter of 2017. The Property comprises 24 floors with a site area of approximately 9,000 sq ft and a total gross floor area of around 107,000 sq ft. It features 160 guestrooms, making it ideally suited for student accommodation. Amenities include eight private car parking spaces, three loading/unloading bays, one coach space, and one motorcycle space, along with three passenger lifts and comprehensive facilities.

Situated in a prime commercial and industrial area of Kwai Chung, the Property benefits from a two-sided street frontage and close proximity to residential developments, offering both investment scale and operational efficiency. With an expansive gross floor area exceeding 100,000 sq ft, the Property presents significant value-add potential, particularly for conversion into private student accommodation. The flexible room sizes also cater to the needs of talent accommodation. Additionally, the Property enjoys excellent accessibility, being just a 15-minute walk from MTR Kwai Hing Station, and is well served by shuttle bus services. Several bus and minibus routes in the neighbourhood further connect the Property to the wider Hong Kong area.

Oscar Chan, Head of Capital Markets at JLL in Hong Kong, said: "Hotel Ease offers over 100,000 sq ft of flexible floor space, surpassing comparable properties in both size and spaciousness. This presents exceptional potential for conversion into private student accommodation, while also meeting the demand for talent housing. The government's latest Policy Address further enhances this opportunity with a pilot scheme promoting the conversion of hotels and commercial buildings into student accommodation, which is expected to further stimulate market demand for such properties, as evidenced by recent hotel transactions across various districts earmarked for student accommodation conversion. With attractive rental yields and the prospect of interest rate cuts, the outlook for hotel conversions to student accommodation is highly encouraging. The Property represents a compelling investment opportunity and is expected to attract strong interest from universities and investors."

For more information, please contact Oscar Chan at 5348-0312.