International real estate firm Savills has successfully completed the sale of No. 39 Morrison Hill Road in Wan Chai for approximately HKD 385.78 million. The total gross area of the property is approximately 55,238 square feet, with a site area of about 3,112 square feet.
The property is a 26-storey boutique hotel comprising a total of 98 guest rooms, with room sizes ranging from approximately 176 to 324 square feet, offering flexible and versatile layouts. It is strategically located in the core district of Causeway Bay, one of Hong Kong’s most vibrant hubs for business, shopping, entertainment and dining. The property enjoys close proximity to several major shopping malls and commercial landmarks, including Times Square, Hysan Place and Lee Gardens, benefitting from a highly prime location.
Furthermore, the property is approximately a 5-minute walk from the Causeway Bay MTR station, providing excellent connectivity to major commercial districts across Hong Kong Island and Kowloon, and offering exceptional convenience for both residents and visitors.
Mr. Jason Wo, Senior Director, Investment of Savills said, “The purchaser was drawn to the property’s prime location and strong fundamentals, with plans to undertake a full-scale refurbishment and reposition it as a boutique hotel catering to high-end guests seeking medium to long-term accommodation.
Causeway Bay, as one of Hong Kong’s core business districts, continues to attract business travellers, affluent mainland professionals and local talent. In recent years, a structural shift in the hotel market, with many smaller hotels and serviced apartments converted into student housing, has led to a decline in boutique hotel supply.
Against tightening supply, the project is well-positioned to capture growing demand for high-quality long-stay accommodation and is expected to unlock strong market potential upon completion.”