Press release
CBRE Appointed as Sole Agent for Public Tender Sale of No. 18-20, Essex Crescent, Kowloon Tong
First Ever on Market in Almost 40 Years
September 9, 2025
Media Contact
Christine Tai
Associate Director, Marketing & Communications, Hong Kong
CBRE has been appointed as sole agent for Public Tender Sale of No. 18-20, Essex Crescent, Kowloon Tong (the “Property”). Currently a two-storey residential building with a car park, the site spans approximately 21,235 sq. ft., with a potential redevelopment gross floor area of around 12,741 sq. ft. The market valuation is approximately HK$400 million, which is equivalent to a land price of approximately HK$31,395 per sq. ft. The property will be sold via public tender, with the deadline set for Tuesday, 18 November 2025 at 12:00 noon.
Located on Essex Crescent in Kowloon Tong, the Property occupies a rare double-lot site with a wide frontage of approximately 180 ft. The tranquil and lush surroundings are complemented by proximity to prestigious local and international schools, including La Salle College, Maryknoll Convent School, Diocesan Preparatory School, American International School, Hong Kong Baptist University, and City University of Hong Kong, making it highly attractive to family buyers. The site is also near elite recreational facilities such as the Kowloon Tsai Home Owners’ Association and Kowloon Tong Club, offering an ideal lifestyle for social elites and professionals.
Darren Yan, Associate Director of Capital Markets at CBRE Hong Kong, said: “Hong Kong’s luxury residential market continues to thrive in 2025, with record-breaking prices. For example, a penthouse at Mount Nicholson sold for approximately HK$144,415 per sq. ft., setting new benchmarks for the project and for stratified residences in Asia. Another premium unit at The Cullinan in Kowloon Station was transacted at HK$129,014 per sq. ft., marking a new high for first-hand residential prices in Kowloon. Since last year, Kowloon Tong has recorded 12 land transactions, reflecting strong market sentiment and active buyer interest in rare opportunities.”
Darren Yan added :”This is the first time the property has been listed since its completion, with the owner’s family holding it for nearly 40 years, making it a highly treasured asset. Its greatest advantage lies in the over 20,000 sq. ft. site, which offers buyers the flexibility to redevelop into a single mansion of over 12,000 sq. ft. or two semi-detached houses of around 6,000 sq. ft. each, while nearly 16,000 sq. ft. of outdoor garden space will be still remained. It’s a dream location for building a bespoke luxury home in an elite neighbourhood. The last transaction of a site over 20,000 sq. ft. in Kowloon Tong was at No. 3-5 Lincoln Road, which sold for HK$430 million, or HK$35,162 per sq. ft., serving as a reference for this property’s value. Additionally, the property currently holds a guesthouse license with 36 rooms, offering potential for refurbishment and conversion for educational, religious, or institutional use.”
For further details, please contact Darren Yan, Associate Director (Tel: +852 6336 8384) or Ray Chan, Senior Manager (Tel: +852 6103 5679), Capital Markets at CBRE Hong Kong
Property Advertising Numbers: CBRE-CM-ADV-5444
Located on Essex Crescent in Kowloon Tong, the Property occupies a rare double-lot site with a wide frontage of approximately 180 ft. The tranquil and lush surroundings are complemented by proximity to prestigious local and international schools, including La Salle College, Maryknoll Convent School, Diocesan Preparatory School, American International School, Hong Kong Baptist University, and City University of Hong Kong, making it highly attractive to family buyers. The site is also near elite recreational facilities such as the Kowloon Tsai Home Owners’ Association and Kowloon Tong Club, offering an ideal lifestyle for social elites and professionals.
Darren Yan, Associate Director of Capital Markets at CBRE Hong Kong, said: “Hong Kong’s luxury residential market continues to thrive in 2025, with record-breaking prices. For example, a penthouse at Mount Nicholson sold for approximately HK$144,415 per sq. ft., setting new benchmarks for the project and for stratified residences in Asia. Another premium unit at The Cullinan in Kowloon Station was transacted at HK$129,014 per sq. ft., marking a new high for first-hand residential prices in Kowloon. Since last year, Kowloon Tong has recorded 12 land transactions, reflecting strong market sentiment and active buyer interest in rare opportunities.”
Darren Yan added :”This is the first time the property has been listed since its completion, with the owner’s family holding it for nearly 40 years, making it a highly treasured asset. Its greatest advantage lies in the over 20,000 sq. ft. site, which offers buyers the flexibility to redevelop into a single mansion of over 12,000 sq. ft. or two semi-detached houses of around 6,000 sq. ft. each, while nearly 16,000 sq. ft. of outdoor garden space will be still remained. It’s a dream location for building a bespoke luxury home in an elite neighbourhood. The last transaction of a site over 20,000 sq. ft. in Kowloon Tong was at No. 3-5 Lincoln Road, which sold for HK$430 million, or HK$35,162 per sq. ft., serving as a reference for this property’s value. Additionally, the property currently holds a guesthouse license with 36 rooms, offering potential for refurbishment and conversion for educational, religious, or institutional use.”
For further details, please contact Darren Yan, Associate Director (Tel: +852 6336 8384) or Ray Chan, Senior Manager (Tel: +852 6103 5679), Capital Markets at CBRE Hong Kong
Property Advertising Numbers: CBRE-CM-ADV-5444
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.