CBRE Appointed as Sole Agent for Sale of North Point Commercial / Residential Redevelopment Site

CBRE has been appointed as the sole agent for sale of the redevelopment site at 18–20 Yuet Yuen Street, North Point, Hong Kong, by way of private treaty. The site area is 1,618 sq. ft. approx. The owner acquired the property in 2019 and has since demolished the existing building, allowing the purchaser to commence planning and construction immediately upon acquisition. As the site is zoned “Commercial/Residential,” redevelopment options are highly flexible, with potential for residential, office, boutique commercial building, or hotel use, including student accommodation operations.

18–20 Yuet Yuen Street is located in the heart of North Point, a well-established residential district with comprehensive lifestyle amenities. It is within a six minute walk to Fortress Hill MTR Station and just two minutes to bus and tram stops on King’s Road, providing seamless connectivity across Hong Kong Island, Kowloon, and the New Territories. The property is only one minute’s walk from the landmark luxury cultural project “State Pavillia” (formerly State Theatre), while the shopping mall portion of the development – STATE THEATRE by K11 has injected over 80,000 sq. ft. of new retail space, enhancing the living experience in the area. The larger shopping mall WORFU is just three minutes away on foot, offering supermarkets and a food court to meet all daily needs.

The site area is 1,618 sq. ft. approx. and is zoned “Commercial/Residential,” offering exceptional flexibility for redevelopment into residential, office, boutique commercial building, or hotel use. The property is currently vacant, enabling buyers to immediately submit plans and commence construction, thereby shortening the development cycle and unlocking project value quickly. In recent years, demand for student accommodation has risen sharply, with student numbers continuing to grow. However, purpose built student housing supply on Hong Kong Island remains extremely limited. North Point, with its excellent transport connectivity, which is close to the MTR and major thoroughfares, presents an attractive location for students. The district also offers mature lifestyle amenities, providing a safe, convenient, and diverse living environment. Operators have already established a presence in North Point, such as Starvia by Y Suites on Fortress Hill, underscoring the strong market appetite for student housing. Redeveloping this site into a hotel with student accommodation operations would not only address the supply gap but also deliver stable rental income and long term investment value.

Bernadette Lau, Senior Director of Capital Markets, CBRE Hong Kong commented: “Although North Point has traditionally been regarded as a local residential district, the government’s sale of the former Oil Street and North Point Estate sites to local developers for luxury projects has injected new momentum into the area, attracting significant capital inflows and driving multiple redevelopment initiatives. Recent projects include 101 King’s Road, ‘State Pavillia,’ and Kabitat Tin Hau, while Chinachem has invested over HK$1.9 billion to acquire the residential site at 1 North Point Terrace, actively expanding its land bank. This demonstrates the strong attention from investors and developers towards the district. With the site now vacant and offering both commercial and residential flexibility, buyers can immediately embark on planning and redevelopment to fully realize its potential.”

For any enquiries regarding this property, please contact Bernadette Lau, Senior Director, Capital Markets, CBRE Hong Kong at +852 9361 5633 (C-093779, E281455) or Joseph Wong, Associate Director, Capital Markets, CBRE Hong Kong at +852 9752 4618 (E-368256).

Property Advertising Number: CBRE-CM-ADV5678

Photo for reference only