CBRE Appointed as Sole Agent For Sale of Sheung Wan Residential Redevelopment Site

CBRE has been appointed as the sole agent to offer for sale, by way of private treaty, the residential redevelopment site located at 6–8 Ladder Street, Sheung Wan, as instructed by estate executors. The site, spanning over 2,400 sq. ft. site area, represents a rare low density residential plot in Sheung Wan. The property has been held by the late owner since 1976 for more than half a century, and is now being released to the market for the first time by family members as estate executors. This presents a rare opportunity with significant redevelopment potential for a premium luxury project.

Situated in the Mid Levels area of Sheung Wan, 6–8 Ladder Street is only one block away from Caine Road, with convenient transport connections and direct access to Ladder Street. The neighborhood offers a relaxed atmosphere, making it highly suitable for upscale residential development. The site is just minutes from four luxury projects in the Mid Levels, underscoring its prime location and luxury credentials. In addition, the property is surrounded by multiple single ownership buildings and sites, providing long term potential for site merging activities and redevelopment to further expand the site area and maximize development value.

For school net advantage, the property falls within the prestigious Central & Western District school net, covering renowned schools such as King’s College, Sacred Heart Canossian College, and St. Paul’s College. With abundant educational resources and a strong academic atmosphere, this school catchment is highly sought after by parents, adding strong market appeal to any future residential units. The area also hosts several international schools and kindergartens, offering diverse education options and making the site especially attractive to family buyers seeking quality education.

The site area is 2,479 sq. ft. approx. and is held under a 999 year lease, a tenure type that is sought after in the market, particularly among Mainland Chinese buyers. From a town planning perspective, the site is zoned “Residential (Group C)” with a maximum plot ratio of 5 and a building height limit of 12 storeys, making it ideal for mid  to low density premium residential development. Currently vacant, the site allows immediate commencement of planning and construction upon acquisition, shortening the development cycle and accelerating value realization.

Joseph Wong, Associate Director of Capital Markets, CBRE Hong Kong commented: “6–8 Ladder Street is a highly scarce Mid Levels low density residential site with a 999 year lease, held by the same family for over half a century and now offered for sale for the first time. Its prime location, proximity to luxury projects, and strong school net resources highlight both its investment and development value. With the site currently vacant, buyers can immediately embark on planning and redevelopment, while long term consolidation of neighboring plots could enable a larger scale luxury development. The asking price is highly reasonable at HK$96 million, equivalent to an accommodation value that mirrors levels from a decade ago. Against the backdrop of continued strong demand in the luxury property market, this site stands out as particularly rare and valuable.”

For any enquiries regarding this property, please contact Jerry Yuen, Senior Director, Capital Markets, CBRE Hong Kong at +852 9383 0249 (E-278503) or Joseph Wong, Associate Director, Capital Markets, CBRE Hong Kong at +852 9752 4618 (E-368256).

Property Advertising Number: CBRE-CM-ADV5675

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