Press Release
CBRE Appointed As Sole Agent for the Sale of No. 55 Cumberland Road, Kowloon Tong
September 25, 2024
Media Contact
Christine Tai
Associate Director, Marketing & Communications, Hong Kong
CBRE has been appointed as the sole agent by the owner for the sale of No. 55 Cumberland Road, Kowloon Tong. The property has a site area of approximately 10,133 sq. ft. (according to the government lease) and the property currently boasts an area of approximately 6,037 sq. ft. (according to approved building plans). The asking price is HK$180 million, with an average price at HK$29,816 per sq. ft.
Located in the traditional luxury home area in the west of Waterloo Road, the site offers a private space of serenity, making it a popular home to many affluent and influential people in the business and political community in Hong Kong. The site is in the renowned School Net 41, which includes leading schools such as La Salle College and Maryknoll Convent School. The two-storey house covers approximately 3,018 sq. ft. on each floor. With functional layout, the charming scenery of Lion Rock can be overlooked and viewed from the property. With the stunning view of Lion Rock as backdrop and its prestige location and spectacular surroundings, the subject asset becomes the top choice for investors and self-use owners with sophisticated tastes.
Jerry Yuen, Senior Director of Capital Markets at CBRE Hong Kong, stated: “Luxury homes in Kowloon Tong have been keenly sought-after by local users in recent years, with a number of transactions of houses recorded in the year. For example, No. 13 Stafford Road was transacted at approximately HK$138 million with a saleable area of approximately 3,804 sq. ft., with an average price of approximately HK$36,278 per sq. ft. Additionally, No. 19 Kent Road was sold for approximately HK$230 million with a saleable area of approximately 5,994 sq. ft., translating to a price of approximately HK$38,372 per sq. ft. Kowloon Tong is a core traditional luxury residential area in Kowloon, with convenient transportation and attracts many heavyweights and celebrities. With the limited market supply, Kowloon Tong remains irreplaceable. Kerri Properties sold large house for over HK$1 billion in its Mont Verra project with an average price exceeding HK$90,000 per sq. ft. The transactions reflect the strong market demand for high-quality luxury homes. With the start of the rate cut cycle, the luxury home market sentiment is improving. We believe the property will attract both investors and end-users.”
For inquiries about the property, please contact Mr. Jerry Yuen, Senior Director (tel.: +852 9383 0249) or Mr. Travis Tai, Associate Director (tel.: +852 6225 3356) of Capital Markets at CBRE Hong Kong.
Photo 1: No. 55 Cumberland Road, Kowloon Tong
Photos are for reference only
Property Advertising Number: CBRE-CM-ADV4793
Located in the traditional luxury home area in the west of Waterloo Road, the site offers a private space of serenity, making it a popular home to many affluent and influential people in the business and political community in Hong Kong. The site is in the renowned School Net 41, which includes leading schools such as La Salle College and Maryknoll Convent School. The two-storey house covers approximately 3,018 sq. ft. on each floor. With functional layout, the charming scenery of Lion Rock can be overlooked and viewed from the property. With the stunning view of Lion Rock as backdrop and its prestige location and spectacular surroundings, the subject asset becomes the top choice for investors and self-use owners with sophisticated tastes.
Jerry Yuen, Senior Director of Capital Markets at CBRE Hong Kong, stated: “Luxury homes in Kowloon Tong have been keenly sought-after by local users in recent years, with a number of transactions of houses recorded in the year. For example, No. 13 Stafford Road was transacted at approximately HK$138 million with a saleable area of approximately 3,804 sq. ft., with an average price of approximately HK$36,278 per sq. ft. Additionally, No. 19 Kent Road was sold for approximately HK$230 million with a saleable area of approximately 5,994 sq. ft., translating to a price of approximately HK$38,372 per sq. ft. Kowloon Tong is a core traditional luxury residential area in Kowloon, with convenient transportation and attracts many heavyweights and celebrities. With the limited market supply, Kowloon Tong remains irreplaceable. Kerri Properties sold large house for over HK$1 billion in its Mont Verra project with an average price exceeding HK$90,000 per sq. ft. The transactions reflect the strong market demand for high-quality luxury homes. With the start of the rate cut cycle, the luxury home market sentiment is improving. We believe the property will attract both investors and end-users.”
For inquiries about the property, please contact Mr. Jerry Yuen, Senior Director (tel.: +852 9383 0249) or Mr. Travis Tai, Associate Director (tel.: +852 6225 3356) of Capital Markets at CBRE Hong Kong.
Photo 1: No. 55 Cumberland Road, Kowloon Tong
Photos are for reference only
Property Advertising Number: CBRE-CM-ADV4793
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.