The 21‑storey mixed‑use property provides approximately 17,000 sq ft of gross floor area, with retail and commercial space on the lower floors and 54 residential units above. It operates as student accommodation under the HEREIN brand and was fully occupied at the time of sale.

CBRE first launched a sale process in September 2025 with an indicative value of HK$200 million; the latest development is the completion of the sale, announced by Savills in July 2026 at approximately HK$144 million. The transaction equates to approximately HK$8,470 per sq ft, with Savills reporting an investment yield approaching 6%.

Strategic context

The acquisition gives the purchaser immediate income from an established operating asset rather than exposure to conversion, development or initial lease‑up risk. Full occupancy and a residential unit rate below prevailing market levels provide a combination of recurring cash flow and longer‑term capital appreciation potential. Proximity to The Hong Kong Polytechnic University reinforces the asset's demand fundamentals.

More broadly, the transaction demonstrates continued investor appetite for operational student accommodation in Hong Kong as the market attracts more institutional capital.

Read Press Release