Hong Kong, 2 November 2020 – Colliers International (NASDAQ: CIGI; TSX: CIGI), a global leader in real estate services, has been appointed by the owner as lead agent for the sale of O’hotel on 42-46 Kowloon City Road.
Located in To Kwa Wan district, the property has a total gross floor area of approximately 27,860 sq ft with 151 hotel rooms.
Alfred Wong, Director of Capital Markets and Investment Services at Colliers International, said: “The ongoing development of the Shatin to Central Link project has facilitated the renewal of the To Kwa Wan area with many large-scale redevelopment schemes in progress, including multiple residential and commercial projects. Just a few stations away from Admiralty and Central when the Link opens, the location will become easily accessible and is expected to draw significant interest from investors and developers.
“The en-bloc building for sale is O’hotel on 42-46 Kowloon City Road which is to be sold with the hotel licence. Newly renovated in 2013, the hotel has 151 guest rooms with some overlooking the cruise terminal. The future MTR To Kwa Wan Station will be just a one-minute walk away. The potential buyer could consider to convert the building into a co-living space or serviced apartments when the purchase is made.
“The continual development of the area in recent years has added vibrancy to the neighbourhood with quite a number of large-scale residential projects being completed. The area will see more and more development projects upon the full commissioning of the MTR Shatin-Central Link, suggesting a considerable upscale potential for the property.”
The asking price is HK$480 million. Should you need further information on the property, please contact Alfred Wong, Director of Capital Markets and Investment Services at Colliers International (phone: 6699 0311).