Press release
CBRE Appointed as Sole Agent for Sale of (1) En-bloc at No. 315, 317–321 Nathan Road, Kowloon; (2) Whole 13/F, Bank of America Tower, Central
August 10, 2025
Media Contact
Christine Tai
Associate Director, Marketing & Communications, Hong Kong
CBRE has been appointed by the owner as sole agent for the sale of the entire buildings at No. 315 and 317–321 Nathan Road, Kowloon, as well as the entire 13/F of Bank of America Tower, Central. The properties will be sold via public tender, with the closing date set for September 25, 2025 (Thursday) at 12nn.
The two adjoining buildings at No. 315, 317–321 Nathan Road have a current market value of approximately HK$818 million. Located in the prime district of Yau Tsim Mong, Kowloon, the combined gross floor area exceeds 110,000 sq. ft., offering a rare opportunity for large-scale refurbishment or redevelopment. The site is just a one-minute walk from Jordan MTR Station Exit A and is close to the West Kowloon High-Speed Rail Station, Temple Street Night Market, and several renowned hotels, ensuring high foot traffic day and night. The area is also near several tertiary institutions, including PolyU, CityU, HKBU, and HKMU, all within a 15-minute drive, making it ideal for student accommodation conversion projects.
No. 315 Nathan Road is a 12-storey mixed-use building with retail shops, offices, and residential units, totaling approximately 24,338 sq. ft. It offers flexible renovation potential for quick refurbishment and operation. No. 317–321 Nathan Road is a 12-storey commercial and hotel building with retail shops, guesthouses, entertainment venues, and hotel facilities, totaling approximately 87,228 sq. ft. The property benefits from recent government support under the “Hostels in the City Scheme,” which allows commercial buildings to be converted into student hostels without complex planning approvals. Simple renovations can change parts of the building into dormitory rooms, creating a unified large-scale student hostel.
Additionally, the site can be redeveloped into a new commercial building with a total gross floor area of approximately 153,045 sq. ft., suitable for Ginza-style retail, hotel, or Grade A office use. Based on the market valuation of HK$818 million, the land price is only about HK$5,345 per sq. ft., presenting a rare long-term value-add opportunity.
Sam Mock, Executive Director, Capital Markets, CBRE Hong Kong said: “Following the government’s policy to develop Hong Kong into an international education hub, demand for student accommodation has surged. The recent ‘Hostels in the City Scheme’ has relaxed regulations to encourage more commercial buildings to be converted into student hostels, creating a new investment opportunity. CBRE recently facilitated the sale of Hotel Ease at No. 60 Portland Street, Mong Kok for HK$435 million (HK$8,880 per sq. ft.), and The Henry Hotel at No. 330-332 Des Voeux Road West, Sai Ying Pun for HK$185 million (HK$8,000 per sq. ft.). We expect more hotel transactions in the coming months. Large-scale refurbishment and redevelopment projects along Nathan Road in Yau Tsim Mong are rare, and the offering of No. 315 and 317–321 Nathan Road presents strong investment appeal, whether for student accommodation or redevelopment.”
As for the entire 13/F of Bank of America Tower, the property has a gross floor area of approximately 13,880 sq. ft. and is offered partly tenanted and partly vacant. The indicative price is around HK$236 million, or approximately HK$17,000 per sq. ft., slightly below the building’s historical transaction range (HK$18,000–21,000 per sq. ft.), making it attractively priced.
Zac Wong, Senior Director, Capital Markets, CBRE Hong Kong said: “The property is located in the core business district of Central and is a rare full-floor Grade A office with panoramic views of Victoria Harbour and cityscape. It is well-equipped and adjacent to two landmark new super Grade A office buildings, namely The Henderson and Cheung Kong Center II. The commercial atmosphere is maturing, and the property is well-connected to Admiralty Station, Central Station, and major shopping malls like Pacific Place and Admiralty Centre, offering excellent transport convenience. Most of the floor can be delivered vacant, providing high flexibility for self-use or investment.”
Wong added: “The Grade A office market in Hong Kong has clearly rebounded in 2025. Recent transactions include a U.S. financial institution leasing over 200,000 sq. ft. of office space in Central’s new waterfront area, and HKEX acquiring multiple floors in Exchange Square for approximately HK$6.3 billion, indicating strong demand for properties in core business districts. Sixteen floors of Grade A offices in Central have already been sold this year. The timing of this sale is ideal and offers great potential, likely to attract both local and overseas buyers.”
The properties are now open for tender, with the deadline set for September 25, 2025 (Thursday), 12nn. For any enquiries regarding this Property, please contact Zac Wong, Senior Director (tel: +852 9583 4716), Sam Mock, Executive Director (tel: +852 9013 3319), or Ray Chan (tel: +852 6103 5679), Capital Markets, CBRE Hong Kong.
Property Advertising Numbers: CBRE-CM-ADV-4999
The two adjoining buildings at No. 315, 317–321 Nathan Road have a current market value of approximately HK$818 million. Located in the prime district of Yau Tsim Mong, Kowloon, the combined gross floor area exceeds 110,000 sq. ft., offering a rare opportunity for large-scale refurbishment or redevelopment. The site is just a one-minute walk from Jordan MTR Station Exit A and is close to the West Kowloon High-Speed Rail Station, Temple Street Night Market, and several renowned hotels, ensuring high foot traffic day and night. The area is also near several tertiary institutions, including PolyU, CityU, HKBU, and HKMU, all within a 15-minute drive, making it ideal for student accommodation conversion projects.
No. 315 Nathan Road is a 12-storey mixed-use building with retail shops, offices, and residential units, totaling approximately 24,338 sq. ft. It offers flexible renovation potential for quick refurbishment and operation. No. 317–321 Nathan Road is a 12-storey commercial and hotel building with retail shops, guesthouses, entertainment venues, and hotel facilities, totaling approximately 87,228 sq. ft. The property benefits from recent government support under the “Hostels in the City Scheme,” which allows commercial buildings to be converted into student hostels without complex planning approvals. Simple renovations can change parts of the building into dormitory rooms, creating a unified large-scale student hostel.
Additionally, the site can be redeveloped into a new commercial building with a total gross floor area of approximately 153,045 sq. ft., suitable for Ginza-style retail, hotel, or Grade A office use. Based on the market valuation of HK$818 million, the land price is only about HK$5,345 per sq. ft., presenting a rare long-term value-add opportunity.
Sam Mock, Executive Director, Capital Markets, CBRE Hong Kong said: “Following the government’s policy to develop Hong Kong into an international education hub, demand for student accommodation has surged. The recent ‘Hostels in the City Scheme’ has relaxed regulations to encourage more commercial buildings to be converted into student hostels, creating a new investment opportunity. CBRE recently facilitated the sale of Hotel Ease at No. 60 Portland Street, Mong Kok for HK$435 million (HK$8,880 per sq. ft.), and The Henry Hotel at No. 330-332 Des Voeux Road West, Sai Ying Pun for HK$185 million (HK$8,000 per sq. ft.). We expect more hotel transactions in the coming months. Large-scale refurbishment and redevelopment projects along Nathan Road in Yau Tsim Mong are rare, and the offering of No. 315 and 317–321 Nathan Road presents strong investment appeal, whether for student accommodation or redevelopment.”
As for the entire 13/F of Bank of America Tower, the property has a gross floor area of approximately 13,880 sq. ft. and is offered partly tenanted and partly vacant. The indicative price is around HK$236 million, or approximately HK$17,000 per sq. ft., slightly below the building’s historical transaction range (HK$18,000–21,000 per sq. ft.), making it attractively priced.
Zac Wong, Senior Director, Capital Markets, CBRE Hong Kong said: “The property is located in the core business district of Central and is a rare full-floor Grade A office with panoramic views of Victoria Harbour and cityscape. It is well-equipped and adjacent to two landmark new super Grade A office buildings, namely The Henderson and Cheung Kong Center II. The commercial atmosphere is maturing, and the property is well-connected to Admiralty Station, Central Station, and major shopping malls like Pacific Place and Admiralty Centre, offering excellent transport convenience. Most of the floor can be delivered vacant, providing high flexibility for self-use or investment.”
Wong added: “The Grade A office market in Hong Kong has clearly rebounded in 2025. Recent transactions include a U.S. financial institution leasing over 200,000 sq. ft. of office space in Central’s new waterfront area, and HKEX acquiring multiple floors in Exchange Square for approximately HK$6.3 billion, indicating strong demand for properties in core business districts. Sixteen floors of Grade A offices in Central have already been sold this year. The timing of this sale is ideal and offers great potential, likely to attract both local and overseas buyers.”
The properties are now open for tender, with the deadline set for September 25, 2025 (Thursday), 12nn. For any enquiries regarding this Property, please contact Zac Wong, Senior Director (tel: +852 9583 4716), Sam Mock, Executive Director (tel: +852 9013 3319), or Ray Chan (tel: +852 6103 5679), Capital Markets, CBRE Hong Kong.
Property Advertising Numbers: CBRE-CM-ADV-4999
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.