DTZ

Overview

DTZ was appointed to advise Toyo Mall Limited on the acquisition of The Centre Mark, a rare property in prime location in Hong Kong, from Wincome Group for HKD520 million. The proximity to the MTR station, other prominent grade A office buildings and the SOHO area gives The Centre Mark a good potential to become a new serviced apartment building right in Central, where another serviced apartment building, The Putman, is close by.

What DTZ did

• The Hong Kong investment team helped the purchaser seize upon this rare opportunity to acquire an entire block of commercial building in Central where prime commercial properties are in limited supply.
• DTZ spent more than two months on negotiations before the deal was reached between the vendor and the purchaser.
• As the initial yield was low, the team did a lot to persuade the purchaser to look at the value-added potential of converting the building into a serviced apartment.
• As Toyo Mall had no experience in the serviced apartment sector, DTZ had prepared plenty of financial analyses and market studies for them.

Results

The building was acquired for HKD520 million.