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Colliers appointed as sole agent to sell a sea-view residential site in Hung Hom

HONG KONG SAR, 28 June 2022 – Leading diversified professional services and investment management company Colliers (NASDAQ and TSX: CIGI) is pleased to announce it has been appointed as sole agent by the landlord for the sale of a residential site on 470-478 Chatham Road North, Hung Hom, Kowloon, Hong Kong by way of expression of interest.

Located at the junction of Chatham Road North and Shek Tong Street in Hung Hom with an area of 4,700 square feet, it is a rare site for sale with vacant possession and is approved for construction of a residential building with around 180 units. The development site is being sold with the approved plans.

Thomas Chak, Executive Director, Capital Markets & Investment Services | Hong Kong, commented: “The Hung Hom area has long been mainly a residential area. It is a rare opportunity to have a corner plot put on sale that comes with the approval for construction of a residential project offering more than 180 units and a total approved gross floor area of approximately 42,000 square feet. Adjacent to two MTR stations along the Tuen Ma Line, this conveniently located site is within 3 and 8 minutes’ walking distance from To Kwa Wan and Ho Man Tin station respectively.”

In recent years, MTR Corporation has been actively developing new railway extensions, such as the East Rail Line and Tuen Ma Line, further connecting Hong Kong Island, Kowloon and the New Territories. Hung Hom, Ho Man Tin, To Kwa Wan and the nearby areas have become key transportation hubs, with easy access to the airport and to and from mainland China.

From last year till now, the area saw a few sizable deals of hotel and residential properties, such as Hotel Sáv on 83 Wuhu Street, which was bought by an international fund together with a local well-established family at HK$1.65 billion. As for the residential market, in addition to two projects under Henderson Land including a massive redevelopment project in Whampoa, Hung Hom costing about HK$10 billion and the Bailey Street project worth of HK$8.189 billion, Kerry Properties won the tender for a large-scale residential redevelopment project on Hung Fook Street at HK$5.5878 billion and CK Asset was awarded the Kai Ming Street / Wing Kwong Street project at HK$5.996 billion, just to name a few. These transactions reflected developers' confidence in the market's prospect and the strong demand for residential land. The completion of a number of large-scale projects is likely to bring economic benefits to the area with the properties in the vicinity enjoying a greater appreciation potential. 

As this site is up for sale on a vacant possession basis and located in Hung Hom, an area which investors have always had their eye on, it will definitely draw the attention of many mainland Chinese and Hong Kong developers as well as multinational corporations.

If you would like to know more about this investment opportunity, you can contact our expert Mr. Chak  (9238 3128). 


Media Contact:

Alex Kaihau
Marketing & Communications
alex.kaihau@colliers.com 
+852 5971 3234

Nora Wong
Marketing & Communications
nora.wong@colliers.com 
+852 6105 1336


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Thomas Chak

Executive Director

Capital Markets & Investment Services

Hong Kong

AREA OF EXPERTISE
Being an award-winning industry specialist, Thomas is highly regarded amongst his peers and clients with over 18 years’ property investment experience. The key client focus of Capital Markets remains institutional clients, local investors and developers, family offices and private high net worth individuals as well as PRC inbound capital. 

PROFESSIONAL ACCOMPLISHMENTS

Thomas develops and fosters partnership and consultancy based approaches to clients, resulting in improved profitability through high client retention rates and improved business profile. 

BUSINESS AND EDUCATIONAL BACKGROUND

Thomas has joined Colliers as Executive Director of Capital Markets in July 2019. In a way, this is a homecoming for Thomas as he was with Colliers’ Capital Markets team between 2006 and 2008.  Prior to joining back Colliers, he was with Knight Frank as Senior Director of Capital Markets, where he completed transactions of over HK$8 billion.   

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Andrew Ng

Senior Associate Director

Capital Markets & Investment Services

Hong Kong

Andrew has joined Colliers as Senior Associate Director of Capital Markets in Feb 2021. He joined the industry since 2010 from commercial leasing, then to Capital Market. Andrew posseses strong rapport and client relationship with many established PRC State and Private-Owned developers, real estate funds and local private investors.

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Joann Wong

Manager

Capital Markets & Investment Services

Hong Kong

Joann is currently a Manager of Capital Markets & Investment Services at Colliers Hong Kong.  She has over 10 years of commerical real estate market experience in Hong Kong.

Joann is well-versed in industrial and commercial properties.  She was educated at the University of British Columbia and University of Hong Kong, obtaining her Bachelor of Arts and Master in Real Estates respectively.  

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