International real estate firm Savills has been appointed as the sole agent by the owner for the sale of three shophouse tenement buildings, including No. 146 Nam Cheong Street, Kowloon; No. 43 Kowloon City Road, Kowloon; and No. 91 Lion Rock Road, Kowloon.
No.146 Nam Cheong Street
The property is a seven-storey building comprising a ground floor retail shop with a cockloft, and domestic units from the first to fifth floors. It has a total gross area of approximately 6,017 square feet and a site area of about 971 square feet. The property is classified as a Class B site and enjoys a prominent corner location, facing both Cheung Sha Wan Road and Nam Cheong Street, offering excellent street frontage and open views. It offers great efficiency and redevelopment potential.
Conveniently located, the property is just a two-minute walk from the Sham Shui Po MTR station, providing excellent transport connectivity. The surrounding area is well-supported by a wide range of amenities, including numerous local eateries and shops, making it an attractive location for both residents and investors.
No.43 Kowloon City Road
The property is a three-storey mixed-use tenement building with a ground floor shop currently leased to a well-known food market store, offering stable rental income. The first and second floors are for domestic use, with a total gross area of approximately 2,211 square feet and a site area of about 1,000 square feet. Located on a prominent corner site facing Kowloon City Road and Sheung Heung Road, the Class B site offers great efficiency and strong redevelopment potential. Just a 3-minute walk from To Kwa Wan MTR station, the property enjoys excellent transport connectivity and is surrounded by a wide range of community facilities, local shops and eateries.
No.91 Lion Rock Road
The property is a six-storey building with stable rental income. It has a total gross area of approximately 4,414 square feet and a site area of about 1,092 square feet. Located within School District 41, the property is close to the Kowloon City dining district, Kowloon City Plaza, and Carpenter Road Park, offering comprehensive community amenities. With a prime location and excellent transport connectivity, it is just a 5-minute walk to Sung Wong Toi MTR station and multiple bus routes.
Mr. Russell Tang, Manager of Kowloon Commercial Sales at Savills Hong Kongsaid, “The three shophouse tenement buildings for sale are all located in well-established residential neighborhoods with convenient transportation, offering strong investment potential. The portfolio is situated near MTR stations and multiple bus routes, making it highly suitable for conversion into student or worker dormitories.
With the government gradually relaxing quotas for non-local students and implementing labour importation schemes, rental demand in urban areas is expected to rise steadily, providing a stable and growing cash flow. The current investment yield is approximately 4%. A bundled purchase of all three properties may offer greater room for negotiation, presenting an ideal opportunity for corporates, investors, and co-living operators to enter the market. Additionally, the properties offer redevelopment or revitalization potential, with promising prospects for future value enhancement.”