Properties on 90 Hung To Road, Kwun Tong, which has previously received approval under the Government's "Hostel in the City” Scheme for student hostel use, is being offered for sale for HK$220 million.
Centaline (Commercial) and CBRE have been appointed as joint sole agents for the sale.
The properties for sale comprise part of the ground floor entrance area, the entire first to seventh floor, and the rooftop of 90 Hung To Road, Kwun Tong.
The site area is approximately 5,000 square feet ft, with a total gross floor area of approximately 32,900 sq ft.
The corner building rises eight storeys and enjoys unobstructed views of the Tsui Ping River, benefiting from abundant natural light and open river views, offering both ecological and recreational advantages. The lobby is equipped with a staircase and two passenger lifts, providing comprehensive building facilities, according to Centaline (Commercial).
Earlier this year, the property received approval for conversion into a student hostel providing 128 beds.
CBRE added that the property’s convenient and accessible location makes it ideal for student accommodation development.
As the government continues to promote the city as an international post-secondary education hub, the number of non-local students has been rising steadily, driving significant growth in demand for student accommodation. Market participants generally expect a continued shortage of student housing beds in the coming years, making this asset class increasingly attractive to investors.
