CBRE Appointed as the Sole Agent for the Sale of Commercial Site at No. 20 Kimberley Street, Tsim Sha Tsui

By the Order of the Administrators, CBRE has been appointed as the sole agent for the sale of the commercial site at No. 20 Kimberley Road, Tsim Sha Tsui (the “Site”). The Site is offered for sale through private treaty on an “as-is” and vacant possession basis. The latest indicative price is HK$50 million, representing an accommodation value is of HK$2,960 per square foot. This is an attractive investment opportunity. 

No. 20 Kimberley Road is a single-sided commercial site of about 1,410 sq. ft., with a maximum gross floor area of approximately 16,920 sq. ft. Situated in the heart of Tsim Sha Tsui, the Site enjoys excellent connectivity, just a few minutes’ walk from Exit B2 of Tsim Sha Tsui MTR Station, and is well served by major roads and bus routes, providing convenient access across Kowloon and Hong Kong Island. The district is a vibrant hub for retail, dining, entertainment, and nightlife, attracting both locals and international visitors. With strong pedestrian flow day and night, the Site offers stable rental demand for future redevelopment. It is also located within a 10-minute walk of The Hong Kong Polytechnic University. Given the large student population in Tsim Sha Tsui and nearby Hung Hom, demand for quality student accommodation continues to rise, making the Site highly suitable for student housing development. Compared with traditional residential or hotel uses, student accommodation projects can deliver stable rental returns and further enhance the long-term investment value of the property.

Reeves Yan, Head of Capital Markets, CBRE Hong Kong said: “It is rare to find a prime commercial site available for sale in the heart of Tsim Sha Tsui. Since the second half of 2025, investors have been actively seeking opportunities in student accommodation, driving robust transactions of enbloc hotels and residential properties. Market sentiment has clearly rebounded, with demand for core locations continuing to strengthen. In just six months, 16 enbloc residential and hotel transactions were recorded, totalling approximately HK$3.86 billion, reflecting growing investor confidence.”

Frederick Lai, Senior Director, Capital Markets, CBRE Hong Kong added: “Investors are showing strong confidence in the outlook for student accommodation assets. For example, in December 2025, the entire Residence G hotel at 2 Austin Road was sold to China Merchants Commercial REIT for approximately HK$206 million (HK$8,722 per sq. ft.). This compares with the earlier sale of the Bauhinia Hotel in Tsim Sha Tsui for approximately HK$338 million (HK$7,166 per sq. ft.) just four months prior. The unit price surged by over 20% within a short period, highlighting the market’s appetite for quality student accommodation properties.”

For any additional details about the sole agency, please contact Mr. Reeves Yan, Executive Director and Head of Capital Markets (Tel: +852 9463 9892 | E-243218) or Mr. Frederick Lai, Senior Director (Tel: +852 9194 5323 | S-416744), Capital Markets, CBRE Hong Kong.