Dash Living snaps up Wan Chai property for $400m

The asset was acquired at over 60% below its pre-COVID asking price. 

Dash Living, a flexible living operator and investment platform, has acquired 39 Morrison Hill Road in Wan Chai for $400m. 

The property, formerly operated as BeLiving Youth Hub, will be converted into a hybrid hotel and serviced apartment under the name Dash Living on Morrison.

The building is located in Causeway Bay, with access to nearby commercial and tourist areas, including Times Square and the Hong Kong Convention and Exhibition Centre.

The acquisition brings Dash Living’s managed locations in Hong Kong to 10 and lifts its assets under management in the city to over $3.9b (US$500m).

The company said the purchase price was more than 60% below the asset’s pre-COVID asking price and below replacement cost.

$1 = US$0.13