Three prime properties offered for sale by expression of interest

Hong Kong, 20 April 2026 – JLL has been appointed as the sole agent for the sale of Hotel Ease • Tsuen Wan, located at Nos. 15-19 Chun Pin Street, Kwai Chung, together with two high-specification industrial buildings on separate lots at Nos. 1 and 6 Hong Ting Road, Sai Kung, via an expression of interest. Each asset offers strong redevelopment or conversion potential, aligned with rising market demand for student accommodation and low-density residential uses.

Formerly an industrial building, Hotel Ease • Tsuen Wan received approval for hotel conversion in 2013 and commenced operations in the fourth quarter of 2017. The 24-storey property occupies a site area of approximately 9,000 sq ft, offering a total gross floor area of around 107,000 sq ft and comprising 160 guestrooms sized between 250 and 310 sq ft. Located in a prime commercial and industrial area of Kwai Chung, the hotel benefits from dual street frontage and is supported by dedicated shuttle bus services, providing five- to seven-minute access to MTR Kwai Hing Station. The property is also well connected to the universities in Kowloon via multiple nearby bus and minibus routes.

The property's living space and ambiance compare favourably with similar hotel assets currently on the market. In addition to its suitability as major corporate staff accommodation, the asset is also well positioned for conversion into a large-scale student or talent housing project spanning more than 100,000 sq ft. Subject to regulatory approval, such a conversion could accommodate at least 360 bed spaces. Against the backdrop of a structural undersupply of quality student accommodation, the property presents compelling investment potential, offering investors stable and attractive rental yields along with strong prospects for long-term value growth.

Oscar Chan, Head of Capital Markets at JLL in Hong Kong, said: "In recent years, market demand for hotel assets with conversion potential for student accommodation has remained exceptionally strong. A recent transaction highlighting this trend is China Resources Longdation's acquisition of Hotel COZi • Oasis in the same district for student housing use, at a consideration of approximately HKD953.5 million, or around HKD3,255 per sq ft. Given that Hotel Ease • Tsuen Wan offers larger room sizes and more efficient layouts, we expect pricing on a per sq ft basis to command a premium of around 5% to 10% relative to that transaction. The hotel's manageable scale and relatively low entry threshold enhance its appeal to investors. With the government continuing to advance its 'Hostels in the City Scheme' and expectations for interest rate cuts improving, we believe this represents an opportune time for investors to consider acquiring such assets."

In addition, the two high-specification industrial buildings at Nos. 1 and 6 Hong Ting Road are situated within the mixed residential and industrial district of Tui Min Hoi, Sai Kung. No. 1 Hong Ting Road occupies a dual-frontage site of approximately 30,677 sq ft, with a total gross floor area of about 100,582 sq ft. No. 6 Hong Ting Road benefits from a three-sided frontage and spans a site area of approximately 34,778 sq ft, providing a total gross floor area of around 76,979 sq ft.

The existing assets are rare low-density industrial buildings that have been constructed to exceptionally high specifications. The property at No. 1 Hong Ting Road offers floor loading capacity of up to 300 lbs per sq ft and ceiling heights of up to 16 ft on selected floors, while the building at No. 6 Hong Ting Road provides floor loading capacity of 200 lbs per sq ft and ceiling heights of up to 14 ft on selected floors. Supported by extra-large loading and unloading areas, space with such structural strength and clearance is highly sought after by heavy-industry and special-purpose occupiers.

The two sites are zoned "Residential (Group E) 1" under the Approved Sai Kung Town Outline Zoning Plan No. S/SK-SKT/6. The zoning permits a maximum plot ratio of 2.0, with site coverage capped at 40% and a building height limit of eight storeys, excluding basement levels. Subject to lease modification and payment of a land premium, purchasers may redevelop the sites into low-density residential or housing projects, capitalising on the growing demand for high-quality accommodation in the district.

Chan added: "Sai Kung's high-quality living environment has attracted a growing number of middle- to high-income households and professionals in recent years, while the supply of sizable residential sites in the district has remained extremely limited. The two assets currently offered for sale are set amid lush green hills in a tranquil and highly liveable setting, making them well suited for the development of high-end residential or villa communities. Beyond generating immediate rental income from the existing high-specification industrial buildings, their potential for low-density residential redevelopment presents significant value-add opportunities. Coupled with the flexibility to acquire the properties either individually or collectively to scale up the development, it stands out as a rare and premium landbank opportunity in the current market."

For more information, please contact Ariel Tam at 9343-2073.