CBRE Appointed As Sole Agent For The Sale of Fully Refurbished En-Bloc Industrial Building In Kwun Tong

CBRE has been appointed by the owner as the sole agent for the sale of a fully refurbished en-bloc industrial building located at No. 166 Wai Yip Street, Kwun Tong. The sale will be conducted via Expression of Interest (EOI), with the submission deadline set for Thursday, November 13, 2025 at 12:00 noon. 

Originally completed in 1979, the property underwent extensive refurbishment works in 2013 and 2016, transforming it into a high-quality, modern industrial facility. It features a contemporary glass façade, three brand-new lifts with direct access to the ground floor, a grand entrance lobby, and premium interior finishes. The plot ratio gross floor area is approximately 60,527 sq. ft.. The ground floor boasts a ceiling height of approximately 5.35 meters, ideal for loading/unloading and creating a prestigious lobby entrance. The 1st floor is an air-conditioned warehouse with a ceiling height of approximately 5.225 meters, while floors 2 to 12 are standard floors with floor plates ranging from approximately 4,801 to 6,139 sq. ft..

No. 166 Wai Yip Street is strategically located in the heart of Kwun Tong’s commercial and industrial district, offering excellent connectivity. It is just an 8-minute walk from Kwun Tong MTR Station and flagship Kowloon East mall apm, and only a 5-minute walk to the newly completed landmark, The Millennity, with a 10-storey retail podium providing comprehensive amenities. The property can be sold with vacant possession, presenting a rare acquisition opportunity for corporations seeking a self-owned permanent headquarters. Additionally, the property offers redevelopment potential, making it attractive to value-add investors. The site area is 6,420 sq. ft. (according to land lease documents), with a maximum developable plot ratio GFA of 77,040 sq. ft. (based on a 12x plot ratio).

Reeves Yan, Executive Director, Head of Capital Markets, CBRE Hong Kong said: “No. 166 Wai Yip Street is a rare opportunity to acquire a high-quality, fully refurbished en-bloc industrial property in Kwun Tong. For corporations seeking to establish a self-owned permanent headquarters, this is an ideal asset—located in the core of Hong Kong’s CBD2, offering significant building naming rights and high-exposure exterior signage space to enhance brand visibility”.

Frederick Lai, Senior Director, Capital Markets, CBRE Hong Kong added: “Recent industrial and commercial market transactions highlight the value of the Kowloon East submarket. Comparable deals include the sale of No. 47 Hung To Road in February 2025 for HK$252.2 million (HK$2,293 psf), and No. 105 Wai Yip Street, sold in January 2024 for HK$137 million (HK$6,595 psf). With market expectations of interest rate cuts, No. 166 Wai Yip Street presents a highly attractive and timely en-bloc acquisition opportunity.”.

For any enquiries regarding this Property, please contact Reeves Yan, Executive Director and Head of Capital Markets at 9463 9892; Frederick Lai, Senior Director, Capital Markets at 9194 5323.