Valuation of Silka West Kowloon Hotel Hong Kong
The subject property is a fully serviced hotel with 151 rooms in Tai Kok Tsui district, West Kowloon. Compared with acquisition price of the hotel in 2017 and the sale price in 2019, there was a 14.4% increment on value, and the capital gain was higher than office or retail investments on the average over the same period. Both valuations in 2017 and 2019 were handled by our members and both were for public circular purpose of Golden Wheel Tiandi Holdings (1232.hk).
Golden Wheel Tiandi is a real estate developer in Mainland China, which have over 30 projects, mainly in Jiangsu and Hunan provinces. Its first development project in Hong Kong is a commercial building located close to the Tin Hau MTR Station. Silka West Kowloon Hotel Hong Kong was one of the hotels held by the group.