CBRE Appointed as Sole Agent for Sale by Public Tender of a Prime Commercial Building in Wan Chai

CBRE has been exclusively appointed by the owner to divest, by way of Public Tender, a premium commercial building located at 88 Gloucester Road, Wan Chai, together with 17 car parking spaces at 77–79 Gloucester Road. The current market valuation of the commercial building is HK$1.207 billion, translating to unit rate of approximately HK$11,180 per sq. ft. (less the value of the car-parking spaces at HK$2.5 million per space). The Tender Closing Date is scheduled for 12:00 noon on Thursday, 25 June 2026. 

Situated in the heart of Wan Chai, 88 Gloucester Road offers a compelling combination of owner-occupation potential, investment value, and prominent branding exposure, and is therefore expected to attract strong interest from both corporate occupiers and investors.

This 22-storey building has a total gross area of approximately 104,158 sq. ft. and enjoys three-sided street frontage with a prominent façade facing Gloucester Road currently fitted with a large-scale advertising billboard, providing exceptionally high visibility and strong branding value. Located adjacent to the Wan Chai footbridge network, the Property offers seamless access to the Wan Chai and Exhibition Centre MTR stations, as well as direct connections to Central Plaza and the Wan Chai North commercial office cluster. Due to the strategic location of the Property, it makes an ideal headquarter option for corporate owner-occupiers and private investors alike. 

Mr. Jonathan Chau, Executive Director and Head of Investment Property & Private Office, Capital Markets, CBRE Hong Kong, believes that market sentiment has continued to improve recently, with a notable increase in both enquiries and transaction volumes for large-scale commercial assets. PRC conglomerates and end users from finance, education, and technology have been especially active over the past 18 months, with the market seeing over HK$37.04 billion (HK$29.19 billion in 2025, and HK$7.84 billion in 2026 YTD). With financial institutions, PRC conglomerates and educational institution aggressively pursuing commercial space, several landmark transactions have been recorded in recent months, including:

• DBS Bank (Hong Kong) acquiring an additional six office floors (approx. 152,000 sq. ft. in The Center, Central, for over HK$2.6 billion;
• Dah Sing Financial purchasing 10 floors (approx. 155,000 sq. ft.) at a brand-new Grade A office building Viva Place, together with naming rights, 20 car parking spaces, a retail shop, and related advertising spaces, for over HK$838 million
• OCBC Bank (Hong Kong) acquiring the entire building at 60 Gloucester Road, Wan Chai (approx. 100,000 sq. ft.), for owner-occupation

These transactions fully demonstrate investors’ and corporate occupiers’ confidence in Hong Kong’s long-term development, as well as the stabilization and recovery in demand for office properties in core districts. 

For any additional details about the sole agency, please contact Jonathan Chau, Executive Director, Head of Investment Property & Private Office (Tel: +852 6341 2382 | E-235473), or Zac Wong, Senior Director  (Tel: +852 9583 4716 | S-508852), Capital Markets, CBRE Hong Kong.

Property Advertising Number: CBRE-CM- ADV5614