CBRE Appointed as Sole Agent for Sale of 270° Unobstructed Full Victoria Harbour View Waterfront Hotel at No. 218 Gloucester Road va Private Treaty

CBRE has been appointed by the owner for the sale of a rare en-bloc hotel located at No. 218 Gloucester Road, in the prime area between Causeway Bay and Wan Chai. The property is being sold on an “as-is” basis with vacant possession.

This 30-storey hotel building (excluding the 4/F, 14/F, and 24/F) boasts a site area of approximately 2,335 sq. ft., with a total gross floor area of about 36,873 sq. ft. Completed in March 2010, the property comprises 55 well-designed hotel rooms. Some floors feature ceiling heights up to 4.8 meters, offering a spacious and rare layout. Standard floor plates range from approximately 1,370 sq. ft. to 1,410 sq. ft., typically housing three rooms per floor, ensuring high privacy and a premium experience for guests.

The hotel rooms span from 5/F to 28the 28/F, while the top two floors are designated for office use, providing flexibility for investors or end-users. The ground floor is currently leased to a well-known F&B operator, generating stable rental income. Strategically located between Causeway Bay and Wan Chai, the property is within walking distance of three MTR stations, including Exhibition Centre, Wan Chai, and Causeway Bay, and is well-served by a number of bus routes along Gloucester Road.

Situated at the waterfront area of Gloucester Road, the property boasts a commanding panoramic view of Victoria Harbour, overlooking the Kowloon Peninsula and Tsim Sha Tsui waterfront. It holds a valid hotel license and is a rare seafront hotel asset in the market, featuring column-free floor plates and extra-high ceilings.

Recent hotel transactions reflect strong investor interest in hotel assets, especially full-harbour-view hotels on Hong Kong Island. In November 2024, the entire hotel Twenty One Whitfield at No. 21 Whitfield Road in Tin Hau (approx. 29,760 sq. ft., 54 rooms) was sold for HK$268 million, equivalent to about HK$5 million per room or HK$9,000 per sq. ft. In January 2024, another en-bloc hotel at No. 286 Queen’s Road Central in Sheung Wan (56 rooms) was sold for HK$320 million, or approximately HK$12,393 per sq. ft. and HK$5.7 million per room. These transactions highlight the strong demand for hotel assets with solid fundamentals and prime locations. Full-harbour-view hotels are particularly favoured by institutional investors and hotel operators, as demonstrated by the successful master lease agreement for Oasis Aurum 181 in 2024, facilitated by CBRE between the owner Liu Chong Hing Investment Limited and Guangdong (International) Hotel Management Limited (GDHM).

Reeves Yan, Executive Director, Head of Capital Markets, CBRE Hong Kong, said: “With interest rates stabilising and tourism steadily recovering, it is now a golden opportunity to invest in hotel assets. We are seeing renewed confidence in hotel projects with strong fundamentals and repositioning potential. With the influx of Mainland professionals and students in recent years, demand for quality hotel assets remains strong. This project, with its commanding 270° unobstructed Victoria Harbour view, stands out as a rare opportunity for conversion into high-end serviced residences or executive accommodation for corporates.”
Simon Yu, Associate Director, Capital Markets, CBRE Hong Kong, added: “This is a once-in-a-decade opportunity to acquire one of only three en-bloc hotels on Gloucester Road with over 50 rooms. The other two properties are over 35 years old, making this project exceptionally rare in terms of age, location, and scale, which is a true landmark asset in the heart of Victoria Harbour.”

For any enquiries regarding this Property, please contact Reeves Yan, Executive Director, Capital Markets (tel: +852 9463 9892) or Zac Wong, Senior Director, Capital Markets (tel: +852 9583 4716) or Simon Yu, Associate Director, Capital Markets (tel: +852 9685 8365), CBRE Hong Kong. 

 
Photos for reference only

Property Advertising Number: CBRE-CM-ADV4528