CBRE Appointed as Sole Agent for Sale of Two Prime Assets with Strong Redevelopment and Value-Add Potential

CBRE has been appointed by the owner as sole agent for the sale of two whole-building properties located in core urban districts, namely 20–24 Larch Street, Tai Kok Tsui, Kowloon and 22 Square Street, Tai Ping Shan, Hong Kong (collectively, the “Portfolio”). Both assets offer redevelopment and value enhancement potential, making them highly sought-after investment opportunities in the market.

Property 1: 20–24 Larch Street, Tai Kok Tsui, Kowloon - Prominent Corner Site — Suitable for Refurbishment or Redevelopment

20–24 Larch Street is a 9-storey composite commercial-residential building completed in 1968, with a gross floor area of approximately 26,357 sq ft (unverified) and a total saleable area of approximately 22,805 sq ft. The ground to 3rd floors are designated for commercial use, while the 4th to 9th floors comprise residential units, with four units per floor. Each unit ranges from 536 to 640 sq ft (saleable area). Investors or operators may consider converting and refurbishing the property into student accommodation or co-living spaces, as it is well-supported by surrounding facilities and offers strong potential.

The property is located within the established Tai Kok Tsui neighbourhood, close to Mong Kok and Olympic MTR stations, benefiting from a well-connected transport network with quick access to core business districts such as Central, Sheung Wan and Tsim Sha Tsui. The site area is approximately 2,805 sq ft and is classified as a Class B site (prominent corner site). It is zoned for “Residential (Group A)” use, allowing a maximum plot ratio of approximately 9 times. This translates into a potential redevelopment gross floor area of approximately 25,245 sq ft. The site accommodates various redevelopment options, including residential development, a boutique hotel, student housing or co-living (subject to relevant government approvals), making it highly attractive to developers and long-term investors.

Property 2: 22 Square Street, Tai Ping Shan, Hong Kong - Boutique Residential Positioning — Stable Long-Term Investment

22 Square Street is a 6-storey composite building completed in 1970, situated on a site area of approximately 862 sq ft, with a total saleable area of approximately 3,039 sq ft. The property comprises a ground-floor retail shop and five residential units. It generates stable rental income, while also offering opportunities for asset enhancement and repositioning.

Located in the core area of Tai Ping Shan, the property sits within a mature mixed-use community and a hub for cultural and creative activities. It is approximately a 5-minute walk to Sheung Wan MTR station, and benefits from the Central–Sheung Wan elevated pedestrian network, providing convenient access to key commercial districts. The area is particularly popular among young professionals and expatriates, supporting sustained rental demand.

Combined Investment Highlights

• Two core urban assets in Hong Kong Island and Kowloon offered simultaneously, enabling focused or portfolio investment strategies
• Both properties are mixed-use in nature, offering stable income streams alongside capital appreciation potential
• Tai Kok Tsui asset offers scale and redevelopment advantages
• Square Street asset is ideal for long-term holding and boutique upgrading
• Both are located in established communities with strong accessibility and steady rental demand

Reeves Yan, Executive Director and Head of Capital Markets, CBRE Hong Kong, commented: “The two properties offered in this simultaneous sale each possess distinct characteristics. 20–24 Larch Street in Tai Kok Tsui is a rare whole-building mixed-use asset in the district, benefitting from ongoing urban redevelopment trends and significant development potential. Meanwhile, 22 Square Street in Tai Ping Shan, with its prime location and 999-year lease, is well-suited for long-term investment as well as boutique repositioning. Together, they present diversified investment options to the market.”

For any enquiries regarding this property, please contact Reeves Yan, Executive Director and Head of Capital Markets at +852 9463 9892 (E-243218) or Ray Chan, Associate Director, Capital Markets, CBRE Hong Kong at +852 6103 5679 (E-417485).


Property Advertising Number: 
20–24 Larch Street - CBRE-CM-ADV5501
22 Square Street - CBRE-CM-ADV5650