Press Release
CBRE Appointed as Sole Agent for the Sale of Residential Lot, No. 59 Cumberland Road, Kowloon Tong
October 30, 2023
Media Contact
Christine Tai
Associate Director, Marketing & Communications, Hong Kong
CBRE has been appointed as the sole agent for the sale of residential lot, No. 59 Cumberland Road, Kowloon Tong. The site has an area of approx. 11,902 sq. ft. approx. and can be redeveloped into a house with gross floor area of approx. 10,599 sq. ft. approx. The current indicative price is HK$380 million, with land price of HK$35,852 per sq. ft.
Located in the traditional luxury home area in the west of Waterloo Road, the site offers a private space of serenity, making it a popular home to many affluent and influential people in the business and political community in Hong Kong. The site is in the renowned School Net 41, which includes leading schools such as La Salle College and Maryknoll Convent School. The site has been leveled and construction works can be commenced at any time for redevelopment. The site offers a high degree of flexibility in designing and building an independent house. The charming scenery of Lion Rock can be overlooked and viewed from the site. With the stunning view of Lion Rock as backdrop and its prestige location and spectacular surroundings, the subject asset becomes the top choice for investors and self-use owners with sophisticated tastes.
Arthur Yeung, Executive Director, Capital Markets, CBRE Hong Kong said: “Luxury homes in Kowloon Tong have been keenly sought-after by local users in recent years, as evidenced by a number of transactions of new houses and sites for independent houses this year. Recent site transaction includes No. 1 Dorset Crescent, at approx. HK$210 million in August 2023, with land price of HK$35,279 per sq. ft. As to independent houses, No. 20 Kent Road was sold for approx. HK$480 million in the first quarter this year, which translates into unit price approx. HK$73,600 per sq. ft. Residing in the traditional luxury home area, Kowloon Tong, remains a symbol of prestige, making it a popular home to many heavyweights and celebrities in Hong Kong. The recent transactions reflect quality properties and the luxury home market are highly sought-after. The site for sale boasts almost 12,000 sq. ft. The subject sale is a rare opportunity in Kowloon Tong, offering a site area of nearly 12,000 sq. ft. and a high degree of flexibility in redevelopment. In addition to the benefits received from the reduction in stamp duty, it is expected to have a positive impact on the property market and will draw attention from investors and users of different backgrounds.”
For any enquiries regarding this Property, please contact Travis Tai (tel.: +852 6225 3356), Arthur Yeung (tel.: +852 9088 9168), or Jerry Yuen (tel.: +852 9383 0249), Capital Markets, CBRE Hong Kong.
Photos 1 & 2: No. 59, Cumberland Road, Kowloon Tong
Photos are for reference only
Property Advertising Number: CBRE-CM-ADV4120
Located in the traditional luxury home area in the west of Waterloo Road, the site offers a private space of serenity, making it a popular home to many affluent and influential people in the business and political community in Hong Kong. The site is in the renowned School Net 41, which includes leading schools such as La Salle College and Maryknoll Convent School. The site has been leveled and construction works can be commenced at any time for redevelopment. The site offers a high degree of flexibility in designing and building an independent house. The charming scenery of Lion Rock can be overlooked and viewed from the site. With the stunning view of Lion Rock as backdrop and its prestige location and spectacular surroundings, the subject asset becomes the top choice for investors and self-use owners with sophisticated tastes.
Arthur Yeung, Executive Director, Capital Markets, CBRE Hong Kong said: “Luxury homes in Kowloon Tong have been keenly sought-after by local users in recent years, as evidenced by a number of transactions of new houses and sites for independent houses this year. Recent site transaction includes No. 1 Dorset Crescent, at approx. HK$210 million in August 2023, with land price of HK$35,279 per sq. ft. As to independent houses, No. 20 Kent Road was sold for approx. HK$480 million in the first quarter this year, which translates into unit price approx. HK$73,600 per sq. ft. Residing in the traditional luxury home area, Kowloon Tong, remains a symbol of prestige, making it a popular home to many heavyweights and celebrities in Hong Kong. The recent transactions reflect quality properties and the luxury home market are highly sought-after. The site for sale boasts almost 12,000 sq. ft. The subject sale is a rare opportunity in Kowloon Tong, offering a site area of nearly 12,000 sq. ft. and a high degree of flexibility in redevelopment. In addition to the benefits received from the reduction in stamp duty, it is expected to have a positive impact on the property market and will draw attention from investors and users of different backgrounds.”
For any enquiries regarding this Property, please contact Travis Tai (tel.: +852 6225 3356), Arthur Yeung (tel.: +852 9088 9168), or Jerry Yuen (tel.: +852 9383 0249), Capital Markets, CBRE Hong Kong.
Photos 1 & 2: No. 59, Cumberland Road, Kowloon Tong
Property Advertising Number: CBRE-CM-ADV4120
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.