Central Mansions Taps Into Colonial Charm

• 31 December 2015
• Property Focus
• 1875 Views

After a large-scale refurbishment, the rebranded Central Mansions serviced apartment has fully launched operations. It offers residents a range of modern amenities in a building that recalls the Kingdom’s colonial era.

The property now known as Central Mansions was initially developed in 2001 by a local developer and christened Colonial Mansions, since it used as its model the architectural style from the era when Cambodia was a French protectorate. In 2011, developer Hongkong Land bought the building for US$33.65 million and spent another US$4.5 million on a refurbishment before giving it the name it has today.

The refurbishment, completed in September last year, was led by French-Cambodian construction firm LBL International with help from both local and international building consultants. The renovation kept most of the building’s structure in order to conserve the French colonial style, changing only the interior amenities and upgrading the security and safety standards.

While the scaffolding was taken down and building materials cleared from the premises last year, the full range of the facilities and amenities began operation this year. Today, Central Mansions has a convenience store, a restaurant offering local and western cuisines, a gym, two swimming pools, children’s playground, a daycare area and high-speed internet connections.

The complex features 101 units that have from one to three bedrooms, a penthouse and studios. Rental prices range from US$800 to US$6,000 per month.

“The renovation increased the quality of our products and services, which is helped by the presence of a strong management team,” said Jenny Sophorn, leasing manager at Central Mansions. “Everything we have done is to bring the accommodation experience to the highest standard.”

She said the goal was to make the facility more than just a serviced apartment, but a real “home away from home.”

Developer Hongkong Land is one of Asia’s leading property investment, management and development groups, and one of the oldest, having been founded in Hong Kong in 1889.

The Central Mansions facility is Hongkong Land’s first project completed since the company entered the Phnom Penh market in November 2011. In Cambodia, besides Central Mansions and the US$100 million Landmark Building, the group has a 1,625 square-meter plot of land on the Phnom Penh riverside between Wat Ounalom and the Tonle Sap River. According to Sophorn, the developer is considering building high-end accommodation on that land as well.

Phnom Penh currently has more than 15 fully serviced Grade-A apartment buildings offering a range of facilities and amenities. In real terms the total supply of serviced apartments (Grade A and B), is now in excess of 85,000 square meters.

But Jenny Sophorn of Hongkong Land said there are currently only five apartment buildings at the same standard as Central Mansions.

“The serviced-apartment market is very competitive,” she said. “However, the high-end apartment sector still has room to grow.”