Savills has been appointed as the sole agent for the tender sale of Central Park Hotel, Central. The tender closing date is 20 July 2011 (Wednesday) at 12pm.
Savills has been appointed as the sole agent for the tender sale of Central Park Hotel, Central. The tender closing date is 20 July 2011 (Wednesday) at 12pm.
Central Park Hotel, located at 233 Hollywood Road, Central, is at the business hub of Hollywood Road, which is at the junction between Possession Street and Hollywood Road. The hotel, spanning an area of 58,738 sq ft, with a 1-Star Michelin high-end Japanese restaurant located on the UG/F of the hotel, is located very closely to the Soho area where tourist spots, shopping and entertainment facilities are available in the proximity. The government has intended to turn the neighbourhood of Man Mo Temple as an integrated tourist and cultural area. With several boutique and 4-star hotels to be opened in the coming year, Sheung Wan will definitely be the new black for catering and hospitality zones.
Completed in 1998, the property is a 25-storey hotel with 142 guestrooms. This property is nicely decorated with curtain walling. Satisfactory occupancy rate is achieved with many business travelers and overseas tourists.
Tim Wong, Director of Investment, Savills said that hotels are rarely on sale in Central and Sheung Wan. Currently, Sheung Wan is the latest cultural and vibrant community in the city, which is not hard to attract investors for such valuable property. Based on the low interest environment, investors who wish to be offered with high-yield property will also be provided with hotel management solution.”