Kwun Tong Property at 90 Hung To Road Lists for Sale at HK$220 Million for Student Hostel
Thestandard · 1 SOURCESabout 1 hour ago2 MIN
Summary
A commercial property at 90 Hung To Road in Kwun Tong has been listed for sale at HK$220 million, having previously secured approval to convert into a student hostel under the Government's Hostel in the City Scheme. The eight-storey corner building, situated on approximately 5,000 square feet of land, offers about 32,900 square feet of gross floor area across floors one through seven, the ground floor entrance area, and the rooftop. Earlier this year, the property received endorsement to provide 128 student beds, positioning it as a timely addition to the market. CBRE and Centaline (Commercial) are acting as joint sole agents for the transaction, which comes as Hong Kong experiences steady growth in non-local students and increased investor interest in purpose-built student accommodation.
Key Points
- The property at 90 Hung To Road, Kwun Tong, is listed at HK$220 million with joint agents CBRE and Centaline (Commercial)
- The building occupies a site of about 5,000 square feet with a gross floor area of approximately 32,900 square feet across eight storeys
- Earlier this year, the property received approval to convert into a student hostel providing 128 beds under the Hostel in the City Scheme
- The corner building offers unobstructed Tsui Ping River views, abundant natural light, a lobby with two passenger lifts, and a staircase
- Non-local student numbers are rising steadily as the government promotes Hong Kong as an international post-secondary education hub
Why It Matters
The sale of this property reflects growing investor appetite for student accommodation assets amid a persistent shortage of beds in Hong Kong. As the government pushes to establish Hong Kong as an international post-secondary education hub, demand for quality student housing is expected to outpace supply for years to come, making this asset class increasingly attractive to both local and overseas investors .
The sale of this property reflects growing investor appetite for student accommodation assets amid a persistent shortage of beds in Hong Kong. As the government pushes to establish Hong Kong as an international post-secondary education hub, demand for quality student housing is expected to outpace supply for years to come, making this asset class increasingly attractive to both local and overseas investors .