CBRE Appointed by The Receiver as Sole Agent for the Sale of No. 25 Junction Road, Kowloon

CBRE has been appointed by the receiver as the sole agent for the sale of the residential property at No. 25 Junction Road, Kowloon, by private negotiation. 

Situated at the crossroads of Junction Road and Dumbarton Road in Kowloon City, No. 25 Junction Road is adjacent to Munsang College. The property is greatly accessible to public transportation and it is 3-minute walk from Kowloon City Plaza. Completed in 1955, the property consists of four floors totalling four residential units above the basement car park. Each residential unit covers a saleable area of approx. 966 sq. ft. and the entire building boasts a total gross floor area of 4,834 sq. ft. 

As a standalone lot, No. 25 Junction Road spans a site area of approx. 1,400 sq. ft. The property shares the same staircase entrance with the neighbouring No. 23 Junction Road and also forms a building with Nos. 48-50 and Nos. 52-54, Grampian Road. The property falls within School Net 41 and is surrounded by medium-density luxury residential developments, such as Parc Inverness, The Grampian, Ayton and The Bloomsville. In light of the government’s recent push to speed up the pace of urban renewal, it is anticipated that the Development Bureau will further lower the threshold for compulsory sale applications, which will be beneficial to the long-term redevelopment. 

Avan Pau, Senior Director, Capital Markets, CBRE Hong Kong said: “In recent years, many properties have been converted into co-living spaces and hostels for university students. While the property is only a 5-minute drive from the Baptist University and City University of Hong Kong in Kowloon Tong, buyers can consider minor renovations and generate rental income from co-living and hostel services. In the long run, buyers can explore the possibility of purchasing adjacent lots for redevelopment. The property is now listed for sale by the receiver. With the asking price significantly adjusted from the peak, we expect this subject property will attract many investors.” 

For any enquiries regarding the Subject Property, please contact Avan Pau, Senior Director (tel: +852 9194 5323) or Churchill Keung, Assistant Manager, Capital Markets, CBRE Hong Kong (tel: +852 6679 2298).