CBRE sees over 5% yield in Sham Shui Po block sale

The MTR-adjacent block targets student housing investors.

CBRE has been appointed to handle the sale of a building at 127 Kweilin Street in Sham Shui Po, opposite Exit C2 of the Sham Shui Po MTR station.

The property will be sold through direct negotiation and is expected to generate a rental return of more than 5%. It has a total floor area of about 3,822 square feet, with shops on the ground floor and flats above.

The site is located at the corner of Kweilin Street and Apliu Street. The retail units generate rental income, whilst the residential units are leased to a mix of tenants, including students.

CBRE said the site could be rebuilt in the future if neighbouring plots are combined, subject to approval.

The firm handled seven whole-building sales in Kowloon last year. Across the rental housing market, 23 deals worth more than $7b were completed.

Most investor interest was in properties near MTR stations and universities.