Hong Kong

CBRE Appointed as Sole Agent for the Sale of Unobstructed Seaview Mega Site in Hoi Yu Street, Quarry Bay, by Public Tender

CBRE has been appointed as the Sole Agent by the Receivers for the sale of the The Remaining Portion of Inland Lot No. 8590 and The Remaining Portion of Inland Lot No. 8723 at Hoi Yu Street, Quarry Bay (collectively the “Lots”) by public tender. Early last year, the Chief Executive in Council approved an in-situ land exchange application by the then owner of the Lots. Detailed terms of the proposed land exchange are subject to the approval of the Development Bureau and relevant departments of the government. The site area after the proposed land exchange may come to approximately 91,838 sq. ft., providing retail, F&B, hotel and office facilities with a total GFA of approximately 400,000 sq. ft.. The tender will close at 12:00 noon on 7th July 2022 (Thursday).

25 Apr 2022

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Nia Tam

MARKETING & COMMUNICATIONS

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Hong Kong, April 25, 2022 – CBRE has been appointed as the Sole Agent by the Receivers for the sale of the The Remaining Portion of Inland Lot No. 8590 and The Remaining Portion of Inland Lot No. 8723 at Hoi Yu Street, Quarry Bay (collectively the “Lots”) by public tender. Early last year, the Chief Executive in Council approved an in-situ land exchange application by the then owner of the Lots. Detailed terms of the proposed land exchange are subject to the approval of the Development Bureau and relevant departments of the government. The site area after the proposed land exchange may come to approximately 91,838 sq. ft., providing retail, F&B, hotel and office facilities with a total GFA of approximately 400,000 sq. ft.. The tender will close at 12:00 noon on 7th July 2022 (Thursday).

The site after the proposed land exchange is located at the waterfront of Hoi Yu Street, Quarry Bay. The sea frontage may come to 220 meters long after the proposed land exchange. After the proposed land exchange, the site will enjoy a 270-degree breath-taking view of the Victoria Harbour, which contrasts finely with the Kai Tak Cruise Terminal on the Kowloon side. According to the approved planning application, the proposed development consists of one block of office, four blocks of hotel with a total of 400 guestrooms on top of a two-storey (G/F & B/F) retail podium.

According to the approved town planning application, portions of the landscaped deck at the podium level shall be publicly accessible, with a mix of hard and soft landscaping and water features for public enjoyment, whilst an open deck shall be provided on the roof top of the office block for events, offering a new experience to visitors in this special Victoria Harbourfront venue. The Town Planning Board has also approved the relaxation of building height restriction such that the proposed development will create an interesting, layered skyline to the waterfront location and urban backdrop by using the variation in building heights. In addition, it was a term of Chief Executive in Council’s approval of the land exchange application that there shall be constructed a barrier-free covered pedestrian elevated walkway with a length of 290 meters and a width of 6 meters to connect the waterfront and Taikoo Place, which can integrate the subject site with the Grade A office cluster in Taikoo Place, greatly enhancing the accessibility and location advantage of the project.

Reeves Yan, Head of Capital Markets and Executive Director of CBRE Hong Kong said, "Following the successful sale in the recent government tender of the New Central Harbourfront Commercial Site 3 at Man Yiu Street, the subject property is currently the only large-scale commercial site located at harbourfront on Hong Kong Island for sale, which is extremely rare. The proposed development is not simply an office or hotel development, but a large-scale mixed use complex integrating commercial, leisure and tourism uses, which is comparable to the landmark project of the International Financial Centre in Central and is expected to become a new Harbourfront Landmark on Hong Kong Island. In cooperation with the government’s enhancement plan for the harbourfront promenade from Wan Chai North to North Point, and the plan for the Boardwalk underneath Eastern Corridor, the harbourfront promenade will run through the east and the west of Hong Kong Island. It is expected to attract a large number of local residents and tourists.

This project has a permanent unobstructed harbour view and has unlimited potential. We believe this tender will attract ample interest from developers and institutional investors.”

For any enquiries regarding this property, please contact Reeves Yan, Head of Capital Markets & Executive Director at 852 9463 9892 or Jerry Yuen, Director, Capital Markets at 852 9383 0249 or Ray Chan, Assistant Manager, Capital Markets at 852 6103 5679.

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Unobstructed Seaview Mega Site in Hoi Yu Street, Quarry Bay

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Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

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