Press Release
CBRE Appointed as Sole Agent for the Sale of Enbloc at No. 41, 41A, 43, Temple Street and G/F & 4/F of No. 45 Temple Street, Yau Ma Tei
August 22, 2024
Media Contact
Christine Tai
Associate Director, Marketing & Communications, Hong Kong
CBRE has been appointed by the owner as the sole agent for sale of the enbloc at No. 41, 41A, 43 Temple Street and G/F & 4/F of No. 45 Temple Street, Yau Ma Tei.
Located at the junction of the front section of Temple Street and Wing Sing Lane, the property faces the traditional bustling Temple Street night market, enjoying frontage on both sides. The property is only a two-minute walk from Exit C of Yau Ma Tei MTR Station and is close to historical landmarks such as Tin Hau Temple and the old Yau Ma Tei Police Station. As a 10-storey residential building with an elevator, the property boasts a total saleable area of approximately 15,000 sq. ft. (according to the Rating and Valuation Department and the measurement from the Approved Building Plans). The residential part is currently occupied by a student accommodation operator until 2026. The property is now available for sale with the existing lease.
Mr. Sam Mock, Executive Director, Investment Property & Private Office, CBRE Hong Kong, said: “The 2024/25 Budget announced early this year has scrapped all property market curbs, including the Special Stamp Duty (SSD), to stimulate residential market. Coupled with the government’s Top Talent Pass Scheme and other admission schemes for talent, it was estimated in April that approximately 110,000 talents will be attracted to Hong Kong, resulting in a gradually growing demand for student and talent accommodation. Due to the limited supply of suitable sites in the core Kowloon area, the market is looking to convert hotels, residential and commercial buildings for more private student accommodation supply. After the removal of market curbs, more investors are considering purchasing second-hand residential properties for conversion into student accommodation (subject to relevant government licenses and approved uses) given the relatively lower conversion costs as compared to other property types. In fact, since March 2024, there have been a number of related transactions, with nine enbloc residential buildings successfully sold. Properties near MTR stations are particularly popular among investors and tenants, offering better rental returns. This subject property is well-equipped and with a reference market value of approximately HK$120 million (information provided by the owner, to be verified and for reference only). The owner is selling at a price close to the market value, which is expected to draw attention from many investors and operators.”
For inquiries about the property details or to arrange a site visit, please contact Mr. Sam Mok, Executive Director (Phone: +852 9013 3319) or Mr. Churchill Keung, Assistant Manager, Investment Property & Private Office, CBRE Hong Kong (Phone: +852 6679 2298).
The Subject Property: Enbloc at No. 41, 41A, 43 Temple Street and G/F & 4/F of No. 45 Temple Street, Yau Ma Tei.
Enbloc residential transactions in the market (source: market transaction data, not verified and for reference only).
Located at the junction of the front section of Temple Street and Wing Sing Lane, the property faces the traditional bustling Temple Street night market, enjoying frontage on both sides. The property is only a two-minute walk from Exit C of Yau Ma Tei MTR Station and is close to historical landmarks such as Tin Hau Temple and the old Yau Ma Tei Police Station. As a 10-storey residential building with an elevator, the property boasts a total saleable area of approximately 15,000 sq. ft. (according to the Rating and Valuation Department and the measurement from the Approved Building Plans). The residential part is currently occupied by a student accommodation operator until 2026. The property is now available for sale with the existing lease.
Mr. Sam Mock, Executive Director, Investment Property & Private Office, CBRE Hong Kong, said: “The 2024/25 Budget announced early this year has scrapped all property market curbs, including the Special Stamp Duty (SSD), to stimulate residential market. Coupled with the government’s Top Talent Pass Scheme and other admission schemes for talent, it was estimated in April that approximately 110,000 talents will be attracted to Hong Kong, resulting in a gradually growing demand for student and talent accommodation. Due to the limited supply of suitable sites in the core Kowloon area, the market is looking to convert hotels, residential and commercial buildings for more private student accommodation supply. After the removal of market curbs, more investors are considering purchasing second-hand residential properties for conversion into student accommodation (subject to relevant government licenses and approved uses) given the relatively lower conversion costs as compared to other property types. In fact, since March 2024, there have been a number of related transactions, with nine enbloc residential buildings successfully sold. Properties near MTR stations are particularly popular among investors and tenants, offering better rental returns. This subject property is well-equipped and with a reference market value of approximately HK$120 million (information provided by the owner, to be verified and for reference only). The owner is selling at a price close to the market value, which is expected to draw attention from many investors and operators.”
For inquiries about the property details or to arrange a site visit, please contact Mr. Sam Mok, Executive Director (Phone: +852 9013 3319) or Mr. Churchill Keung, Assistant Manager, Investment Property & Private Office, CBRE Hong Kong (Phone: +852 6679 2298).
The Subject Property: Enbloc at No. 41, 41A, 43 Temple Street and G/F & 4/F of No. 45 Temple Street, Yau Ma Tei.
Enbloc residential transactions in the market (source: market transaction data, not verified and for reference only).
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.