21 July 2023 – Hong Kong office vacancy rates remain ultra-high despite the withdrawal of the pandemic restrictions in the city, leaving landlords with worrying numbers of underutilized office spaces. Palace Studios, the first private, on-demand fitness studio in Hong Kong, has come up with a practical solution for landlords by repurposing the vacant office spaces into high-end, private fitness studios.

Palace Studios is the first network of tech-forward, on-demand, private fitness spaces that can be rented by the hour by fitness trainers, clients, and individual gym goers – with no long-term commitments, contracts or joining fees.

“Hong Kong's office market is still struggling with the chronic oversupply of vacant office spaces. Developers are building more skyscrapers, but there are decreasing tenants due to several global banks and corporates reducing workforce or moving their Asia-pacific headquarters outside of the city,” said Dinesh Nihalchand, CEO and Founder of Palace Studios. Palace Studios is dedicated to present a prime solution to landlords seeking to fill their vacant office spaces by transforming them into private boutique gyms. With a team of experts in designing, constructing and managing boutique gyms, Palace Studios offers personalized micro gym configurations tailored to the architectural structure of each individual building. “We understand flexibility is key, so we work very closely with property owners to develop a collaborative framework which is win-win for both parties. In other words, we aim to build a boutique gym that is not only fully customized to the building but also meets budget and timeline requirements,” said Dinesh Nihalchand.

Moreover, Palace Studios goes beyond offering a private training space to fitness practitioners, it revolutionizes the way how spaces can be repurposed for the better. Highly committed to sustainability, safety and the highest hygiene standards, Palace Studios takes careful consideration on the overall interior design, selection of materials and in-studio amenities. “The competition for tenants among commercial buildings is intense. Commercial buildings that fall behind in quality compared to peers are expected to suffer pressure in rent and vacancy. With the purpose of turning unused offices in to a sustainable boutique gym, Palace Studios can add significant value to buildings by bringing in more foot traffic to regular office buildings, enticing and retaining tenants, and creating a more profitable investment for partnering owners,” said Dinesh Nihalchand. Palace Studios are hassle-free in maintenance and upkeep, which allows landlords to focus on other aspects of their asset, while Palace Studios takes care of all gym-related details.

“We welcome property owners of commercial buildings, serviced-apartments, and hotels to join hands with us,” said Dinesh Nihalchand. Moving forward, Palace Studios’ mission is to team up with more landlords in Hong Kong to uplift the value of their real estate, and to become an innovative and sustainable real estate solution that benefits both landlords and end consumers in the long run.

Palace Studios Hong Kong

Palace Studios had its grand opening of the first two flagship studios in Central last August, offering upscale and convenient workout spaces to fitness enthusiasts. Fitted out with best-in-class fitness equipment and facilities, Palace Studios are designed for self-workout, 1-on-1 or 2-on-1 training sessions. Without long-term commitments, contracts or membership fees, personal trainers and their clients can book by the hour. Powered by the proprietary Palace App, Palace Studios also provides a tech-enabled platform that allows the users to manage their bookings, payments, and facility access all in one place. Leveraging technology and design, Palace Studios aims to redefine the way fitness and wellness spaces operate, making personalised sessions simple, flexible and sustainable for professionals and clients alike.

Address:

5/F Oriental Crystal Commercial,
46 Lyndhurst Terrace,
Central, Hong Kong

Contact: (852) 9878 5785

Website: www.palace-studios.com

Palace App:

Apple App Store (iOS app) https://apps.apple.com/us/app/palace-studios/id1635103426 

Google Play (Android app) https://play.google.com/store/apps/details?id=com.palacestudios.app 

For hi‐res images of Palace Studios, please download from the below:

https://drive.google.com/drive/folders/1Dhq9XUDMK3Udk-0_sU_Yr-RbMuFnQIBb?usp=sharing For media enquiries, please contact:
Signature Communications
Bowie Li
bowie@signature.hk / hello@signature.hk
(852) 2525 1098 / 6741 4920