For property owners
Turn an underperforming building into student accommodation
Hong Kong is short of student beds and long on ageing buildings. MetroDorms handles the conversion, the operation, the leasing and the yield, end to end.
The gap we work in
For property owners
Case study: Yiu Wa Street, Causeway Bay
The building was a small serviced apartment block with 29 beds and the returns that go with tired stock. Our team redesigned and rebuilt it for student living and brought it to 58 beds.
It let up almost immediately. Occupancy has run close to full since opening, and after expenses the owner's rental income rose by 36%.
beds
owner's rental income after expenses
occupancy since opening
What we take off your hands
Feasibility and design
We assess the building, model the room mix and design a layout that maximises beds without losing liveability.
Conversion
Construction, licensing groundwork, furniture and fit out, managed by the property team of a listed group.
Operation
Smart access, 24 hour CCTV, housekeeping, maintenance and on the ground management.
Leasing
We are building direct channels with local universities so beds are filled from the source rather than left to chance.
Yield optimisation
Room mix, pricing and tenancy structure reviewed against how the building actually performs.
Capital markets
Exit strategy advice, introductions to funds, disposal support and asset restructuring.
Buildings that convert well
From the team
To avoid selling a property cheaply, an owner has to make the asset more attractive and improve its cash flow. Converting an older residential or hotel property into student accommodation is one of the most effective ways to do that today.
Mr Chan Man FaiChairman and Managing Director, Star Group Asia
Our goal is not simply to add beds. It is to redefine the student housing experience with safe, convenient, modern spaces that have a real sense of community.
Mr Lee Ping ShanManaging Director, Operations
There are a great many underperforming assets in Hong Kong. Our team turns them into high yielding property, and advises owners on exit, including introductions to funds and asset restructuring.
Mr Yu Cham MingManaging Director, Capital Markets
In the news
Coverage of the MetroDorms platform and Star Properties student housing strategy.
What is next
Star Group is carrying out preliminary studies on a site in Ngau Tau Kok for a high rise student accommodation development, extending the MetroDorms platform in both reach and scale.
Talk to us about your building
Send us the address and the current use. We will come back to you with an initial view on room count and returns.
Enquire now