Project Details

Instructing Party:
Vendor: Jardine International Motors
Purchaser: Link REIT
Location: 1/ No. 50 Po Loi Street, Hung Hom
2/ No. 60 Ka Yip Street, Chai Wan
Consideration: HK$5,820,000,000
Size: 859,752 SF approx. (GFA)


Jardine International Motors decided to dispose of some of their properties as part of an asset rebalancing exercise. This included the two buildings currently being used as 4S Car Park / Car Service Centres by Zung Fu, a subsidiary of the Jardine Matheson Group and the only Mercedes Benz dealer in Hong Kong. This is by far the largest disposal of the group’s Hong Kong assets in recent decades and they took a very cautious approach to the sales process.

The challenges

As a multinational conglomerate with a significant allocation in real estate, Jardine had two main considerations:
1. to retain a long-term occupation for the 4S Centres’ operations; and
2. to sell at price that would maximize the Group’s interest while avoiding a sense of “divestment from Hong Kong” given the socio-political sentiment.

How we realized potentials 

In 2021, CBRE formed a dedicated project team combining talent from Capital Markets and A&T Industrial & Logistics Services. The new team quickly grasped the client’s long-term occupational needs and structured a sale and leaseback proposal to meet those goals. After an intensive six-month marketing campaign, they locked in a buyer. Link REIT is to acquire 100% interest in the two assets – the largest industrial deal of 2021 in the Hong Kong real estate market.

Related Projects

  • Case Study

    Weave Living

    CBRE sold the en-bloc property for HK$295 million within three months of the day the vendor decided to dispose, successfully assisted Weave Living to expand into multi-family rental residential market.

  • Source a whole building & find the best tenants to occupy all 20 floors of building.

  • Case Study


    Source and consolidate one office of 200,000 square feet in Greater Central