【Simple New Life’s Laurence Chan x Owl Square’s Max Poon Join Forces Again to Expand Urban Co-living Footprint】🏡
We are pleased to announce that Laurance Chan, Chairman of Simple New Life (Stock Code: 8360), and Max Poon, Founder of the Owl Square Co-living Group, have once again joined hands. Their consortium has successfully acquired a cluster of tenement buildings with great potential on Cheung Sha Wan Road, Cheung Sha Wan, for a consideration of HKD 37.2 million.
This acquisition involves eight connected three-storey tenement buildings, comprising a total of 9 units. The total saleable area is approximately 8,103 square feet, with a site area exceeding 8,000 square feet, making it a rare urban project. The group plans to invest capital for a comprehensive refurbishment, subdividing the properties into in-demand, minimalist suites for long-term rental. We believe this initiative can significantly enhance the property's yield, providing a quality and stable cash flow.
In the long term, this property cluster possesses considerable redevelopment potential. The core mission of Owl Square is to revitalize old urban buildings through professional asset enhancement and operational capabilities, transforming them into quality co-living spaces that meet the needs of modern city dwellers. This acquisition not only reflects confidence in the value of core urban properties in Hong Kong but is also a strategic step in realizing our vision of "redefining urban living."
We will leverage the group's extensive experience in property design, renovation works, and tenancy management to establish this project as a benchmark for co-living in the Cheung Sha Wan district, providing an ideal residence for more citizens who seek convenience and quality living.
In the future, we will continue to actively seek high-potential, quality projects in the market, steadfastly expanding our co-living network. Stay tuned!
Thanks to HK01 for the coverage! For details, please see here: https://www.hk01.com/article/60304217
