The Silvermine Beach Hotel is ripe for redevelopment. It has so much potential: an amazing location right on the beach, a growing number of visitors willing to try something beyond Central-TST and an expat population looking for something a bit upmarket to hold celebrations and parties.
It's looking a bit shabby and dated at the moment. Just take a look at the hotel-provided photo of a guestroom - that bedspread is so '80s.
Hopefully someone will come along and make the most of this distressed asset.
If I had HK$280 million, I would...
Here's the article from The Standard:
Door opens to owning landmark hotel
Prospective buyers of the Silvermine Beach Hotel may be looking at more than a few possibilities for the site.
The landmark tourist hotel on Lantau Island - being sold by HYFCO Properties for around HK$280 million - has 128 generous-sized rooms and sports and leisure facilities, and can be repositioned as a conference or training center.
It may also be turned into a five-star spa, away from the hustle and bustle of urban Hong Kong. CB Richard Ellis, the agent for the sale, believes the site also has great redevelopment potential: "Silvermine has an area of more than 80,000 square feet, allowing for a low- density redevelopment in its setting of beach, sea and mountain."
In other words, it may be a gold mine.