Hung Hom Mixed-Use Building Listed for Sale at HK$130M with Tenants
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
Cushman & Wakefield has been exclusively appointed to sell a mixed-use commercial-residential building at 8 Ma Tau Wei Road and 7 Cattle Depot Lane in Hung Hom, Kowloon. The property, spanning 7,626 sq ft of usable area, sits on a corner lot facing Hung Hom Market and multiple pedestrian crossings. Currently listed at HK$130 million with existing tenancies, the building generates HK$450,000 in monthly rent, with the ground floor shop accounting for nearly HK$300,000. Property analysts suggest that if converted into a student dormitory, the monthly rental could rise to approximately HK$600,000.
Key Points
- The property at 8 Ma Tau Wei Road and 7 Cattle Depot Lane offers 7,626 sq ft of usable area on a dual-street corner facing Hung Hom Market
- Asking price stands at HK$130 million with existing tenancies in place; current monthly rental income totals HK$450,000
- Ground floor retail space contributes nearly HK$300,000 monthly, with upper residential floors generating the remainder
- The building is within 5-8 minutes' walk of Whampoa, Hung Hom, and Ho Man Tin MTR stations; PolyU and Hong Kong Metropolitan University are approximately 20 minutes away
- Recent comparable transactions in the area include Chernusse (HK$540 million) and Elite Place (HK$144 million) on Chatham Road North
- Cushman & Wakefield estimates Hong Kong faces a shortfall of at least 78,000 university dormitory spaces
- International schools have leased floors at China Life Centre Block B and Hermosa, while the former China Garden Centre was sold to Hong Kong Metropolitan University
Why It Matters
The listing reflects growing investor interest in properties with student housing conversion potential amid a severe dormitory space shortage driven by the government's "Study in Hong Kong" initiative and expanded non-local student quotas. For local investors, such properties offer stable rental yields with upside potential as demand for private student accommodation continues to outstrip supply.
The listing reflects growing investor interest in properties with student housing conversion potential amid a severe dormitory space shortage driven by the government's "Study in Hong Kong" initiative and expanded non-local student quotas. For local investors, such properties offer stable rental yields with upside potential as demand for private student accommodation continues to outstrip supply.