Leading diversified professional services and investment management company Colliers (NASDAQ and TSX: CIGI) has been appointed as the Sole Agent for the sale of CHI 138 & CHI 314 by way of a public tender.

Primely located in the heart of Wanchai (CHI 138) and Jordan (CHI 314), the properties enjoy a high level of connectivity as they can be easily accessed via major transportation options.

Located directly across from the Wan Chai MTR station, CHI 138 boasts an impressive frontage with excellent exposure and connectivity. It is conveniently situated near renowned hotels, Grade A office buildings, the Hong Kong Convention and Exhibition Centre, and the Wan Chai Ferry Pier. The residential units include studios, one-bed units, two-bed units, a duplex unit and a penthouse suite This award-winning property is certified as BEAM Plus Bronze by the Hong Kong Green Building Council.

CHI 314, located in the heart of Jordan, occupies a prime corner site on the vibrant Nathan Road, just a short walk from the Jordan MTR station, ensuring excellent accessibility. It takes about 10 minutes to walk to the high-speed rail terminus (XLR) in West Kowloon, which connects Hong Kong to several cities in mainland China, facilitating convenient cross-border travel. The property features different layouts, including one-bedroom, deluxe one-bedroom, and two-bedroom configurations.

Thomas Chak, Head of Capital Market & Investment Services, Colliers | Hong Kong, said: “With the Hong Kong government implementing various policies to attract talent and international students, and as the global economy stabilizes, the local investment market is also beginning to rebound. Since early 2024, there have been several transactions in the hospitality and hotel sector. Notably, Crystal Group acquired the "Hotel Ease Access. Lai Chi Kok" in Cheung Sha Wan for HKD 220 million and purchased an en-bloc composite building at 3 San Lau Street, Hung Hom, for HKD 123 million to use as student accommodation. Additionally, Centaline Investment recently purchased the Popway Hotel in Tsim Sha Tsui for HKD 180 million, marking its first student accommodation project in Hong Kong. This reflects a particularly active market for hotel and en-bloc residential transactions.

Multifamiily residential projects in prime locations have always been highly sought-after, achieving high occupancy rates and relatively attractive returns. Buyers also have the flexibility to liquidate their investments by considering strata sale of domestic units based on varying market conditions.”

Shaman Chellaram, Senior Director, Valuation & Advisory Services | Asia, highlighted: “CHI Residences have always been popular among travelers and residents. The 2 highly-visible properties, CHI 138 and CHI 314, are both situated in bustling core areas, with a short distance from the MTR stations. They feature stylish designs and come fully furnished with mordern amenities, providing residents with the home comforts, making them especially appealing to those spending more time in the city.

Since the full reopening of borders, the number of travelers from mainland China and abroad has been steadily rising. According to the figures released by the Hong Kong Tourism Board, visitor numbers to Hong Kong exceeded four million in August 2024, with occupancy rates for hotels and serviced apartments also increasing. The government has implemented measures to support economic recovery and attract talent, stimulating the economy. Professionally managed residential properties, such as serviced apartments, are popular among students, skilled professionals, entrepreneurs and corporates and demand in this market is expected to grow.”

The sale will be by way of a public tender, which closes on 6 December 2024 (Friday) at 12:00 noon.

For further information, please contact Thomas Chak, Head of Capital Market & Investment Services, Colliers Hong Kong as the details below.