International real estate firm Savills is appointed as the sole agent for the tender sale of 21 – 23 Cumberland Road ("The Property"). The Property consists of interconnected single lots and currently features a 2-storey building, with a total site area of approximately 20,214 square feet. The tender closing date is scheduled at noon on December 11, 2024 (Wednesday), and it will be sold on an "as-is" basis.
The Property is situated in an excellent location within the low-density luxury residential area of Kowloon Tong, offering a beautiful and tranquil environment with high privacy. It is only about a 10-minute walk to Kowloon Tong MTR Station. Additionally, it is located within the prestigious 41 School Net, surrounded by renowned local schools and international institutions, such as Diocesan Preparatory School, La Salle College, Maryknoll Convent School, American International School, Hong Kong Baptist University, and City University of Hong Kong. The Property is also adjacent to several social and recreational venues frequented by socialites, such as the Kowloon Tong Club and The Kowloon Tsai Home Owner Association.
Mr. Keith Chang, Senior Director of Residential Sales at Savills Hong Kongsaid, “The indicative price for the property is approximately HKD 388 million. In reference to recent transactions of nearby properties, the interconnected single lots at No. 3 and 5 Lincoln Road were recently sold for HKD 430 million, making the indicative price for this Property more attractive by comparison. Additionally, a site of over 20,000 square feet in Kowloon Tong is extremely rare, making this an opportunity that users and investors should not miss.”
Mr. Kelvin Lo, Associate Director of Residential Sales at Savills Hong Kong said, “The Property consists of two single lots that can be purchased together as interconnected lots or individually as separate lots. This allows for a maximum gross floor area of approximately 12,129 square feet and features an exceptionally wide frontage of over 100 feet, providing great flexibility for redevelopment. After redevelopment, it can accommodate a private swimming pool, tennis court, and spacious green areas, offering unlimited development potential.