Press Release
CBRE Appointed as the Sole Agent For Sale of No. 22 Kent Road, Kowloon Tong by Public Tender
October 2, 2024
Media Contact
Christine Tai
Associate Director, Marketing & Communications, Hong Kong
CBRE has been appointed by the Owner as the sole agent for the sale of No. 22 Kent Road, Kowloon Tong, Hong Kong. The Property will be sold on as-is basis with vacant possession by Public Tender, and the deadline is set at 12:00 noon, 22 November 2024 (Friday).
Subject property is located at the intersection of Cornwall Street and Kent Road, a corner site with approximately 175 ft. facing Cornwall Street and about 116 ft. facing Kent Road. The property is close to Kent Road Garden and in the No.41 school net of prestigious schools. The property offers a vibrant tranquility and excellent accessibility as it only takes a few minutes' walk to the Kowloon Tong MTR station and Festival Walk. It offers a vibrant tranquility and excellent accessibility.
The occupancy permit for No. 22 Kent Road was obtained in 1991. Subject property is currently a two-storey residential mansion with approximately 10,000 sq. ft. of private garden. The site area is about 14,265 sq. ft., and the existing Plot Ratio GFA is approximately 8,532 sq. ft. (according to the approved residential extension plans in 1990). Subject property is designated as 'Residential (Class C) 1 , and it can be developed according to the existing plot ratio or total GFA, offering great potential in terms of redevelopment.
Avan Pau, Senior Director, Investment Property & Private Office, Capital Markets, CBRE Hong Kong, said: “Located in a low-density luxury residential area in Kowloon Tong, No. 22 Kent Road offers a high level of privacy. The property has a site area of over 14,000 sq. ft., which is rarely available in the Kowloon Tong area. With a functional layout, the site is highly adaptable for significant development potential. Independent lots in Kowloon Tong are typically scarce, with owners often being long-established families and end-users who are generally reluctant to sell. A few recent transactions in the area include the sale of a house at No. 19 Kent Road in July 2024 for approximately HK$227.8 million, with salebale of 5,994 sq. ft. and unit price of HK$38,000 per sq. ft. and the sale of No. 7 Devon Road in August 2024 for HK$333 million to a mainland buyer, with saleable of 6,532 sq. ft. and unit price of HK$50,980 per sq. ft. These reflect the market confidence in the luxury property market. The current asking price is HK$400 million, which is equivalent to HK$46,880 per sq. ft. based on existing plot ratio GFA, we expect this property will draw market attention. Moreover, the owner family has held the property for almost 30 years before putting it up for sale via public tender, and new buyer will add further vibrancy to this legendary location.”
For inquiries about the property details, please contact Avan Pau, Senior Director (T: +852 9836 9656) or Churchill Keung, Assistant Manager (Phone: +852 6679 2298), Investment Property & Private Office, Capital Markets, CBRE Hong Kong.
Photos are for reference only
Property Advertising Number: CBRE-CM-ADV5027
Subject property is located at the intersection of Cornwall Street and Kent Road, a corner site with approximately 175 ft. facing Cornwall Street and about 116 ft. facing Kent Road. The property is close to Kent Road Garden and in the No.41 school net of prestigious schools. The property offers a vibrant tranquility and excellent accessibility as it only takes a few minutes' walk to the Kowloon Tong MTR station and Festival Walk. It offers a vibrant tranquility and excellent accessibility.
The occupancy permit for No. 22 Kent Road was obtained in 1991. Subject property is currently a two-storey residential mansion with approximately 10,000 sq. ft. of private garden. The site area is about 14,265 sq. ft., and the existing Plot Ratio GFA is approximately 8,532 sq. ft. (according to the approved residential extension plans in 1990). Subject property is designated as 'Residential (Class C) 1 , and it can be developed according to the existing plot ratio or total GFA, offering great potential in terms of redevelopment.
Avan Pau, Senior Director, Investment Property & Private Office, Capital Markets, CBRE Hong Kong, said: “Located in a low-density luxury residential area in Kowloon Tong, No. 22 Kent Road offers a high level of privacy. The property has a site area of over 14,000 sq. ft., which is rarely available in the Kowloon Tong area. With a functional layout, the site is highly adaptable for significant development potential. Independent lots in Kowloon Tong are typically scarce, with owners often being long-established families and end-users who are generally reluctant to sell. A few recent transactions in the area include the sale of a house at No. 19 Kent Road in July 2024 for approximately HK$227.8 million, with salebale of 5,994 sq. ft. and unit price of HK$38,000 per sq. ft. and the sale of No. 7 Devon Road in August 2024 for HK$333 million to a mainland buyer, with saleable of 6,532 sq. ft. and unit price of HK$50,980 per sq. ft. These reflect the market confidence in the luxury property market. The current asking price is HK$400 million, which is equivalent to HK$46,880 per sq. ft. based on existing plot ratio GFA, we expect this property will draw market attention. Moreover, the owner family has held the property for almost 30 years before putting it up for sale via public tender, and new buyer will add further vibrancy to this legendary location.”
For inquiries about the property details, please contact Avan Pau, Senior Director (T: +852 9836 9656) or Churchill Keung, Assistant Manager (Phone: +852 6679 2298), Investment Property & Private Office, Capital Markets, CBRE Hong Kong.
Photos are for reference only
Property Advertising Number: CBRE-CM-ADV5027
About CBRE Group, Inc
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services (based on 2025 revenue). The company has more than 155,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, data center solutions); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services (based on 2025 revenue). The company has more than 155,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, data center solutions); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.