An office building in Central is in the process of being converted into serviced apartments to meet the rising demand for flats in the area. The 13-storey Ice House project, at 38 Ice House Street, will provide 64 flats ranging from 520 square feet to 780 sq ft. Leasing agent Centaline Property Agency said monthly rents would range between HK$16,000 and HK$22,000. This represented about HK$30 per sq ft. All units are fully furnished studio flats inclusive of management fees and daily maid services. Centaline associate director Louis Ho said the project was aimed mainly at the expatriate sector and young professionals in the information-technology and data-centre fields because of the building's proximity to the popular entertainment areas of Lan Kwai Fong and Soho. Flexibility would be enhanced by short-leasing periods. Mr Ho said about eight units were leased in October and all tenants were expatriates working in Central. Ice House was set to release a second batch of units early this month, Mr Ho said. Surveyors expected a similar renovation of old office buildings due to weak demand for second-grade office space. Earlier this year, property investment company Allied Properties converted a commercial site in Wan Chai into serviced apartments. The developer acquired the 4,300 sq ft site at the junction of Stewart and Jaffe roads for about HK$120 million through a private tender.