CBRE has been appointed as the sole agent for the sale of The Quay, a 21-storey residential building located at No. 411 Chatham Road North, Hung Hom, Kowloon. The property, valued at approximately $25.6 million (HK$200 million), offers a gross floor area of around 17,451 square feet and comprises 54 studio units. Each unit is estimated to be worth $256,000 (HK$2 million).
Situated in proximity to Hong Kong Metropolitan University and The Hong Kong Polytechnic University, The Quay is ideally positioned for student accommodation. The building, completed in 2019, features a retail shop on the ground floor, a shared living space on the first floor, and residential units from the third to the 25th floor. Its location offers excellent transport links, with a bus stop on Pak Kung Street providing connections across Hong Kong, Kowloon, and the New Territories.
Darren Yan, Associate Director of Capital Markets at CBRE Hong Kong, highlighted the property’s appeal, noting the shortage of student housing in the area. “The government is actively enhancing the ‘Study in Hong Kong’ brand,” he said. “With approximately 80,000 non-local students and only about 44,000 dormitory units available, The Quay presents a valuable opportunity for student hostel operations.”
The Quay’s modern facilities and minimal refurbishment requirements are expected to attract significant interest from investors and operators in the student housing sector. The sale of this property underscores the growing demand for student accommodation in Hong Kong, driven by increasing non-local student enrolment.
