Hotel COZi. Photo from JLL.

Prime hotel, industrial building in East Kowloon up for sale

The properties are sold for $2.22b and $180m, respectively.

The 32-storey Hotel COZi Harbour View and the 56.7% shares of Jone Mult Industrial Building, both located in East Kowloon are up for sale, according to JLL.

Hote COZi Harbor View, sold for $2.22b, occupies a site area of 19,050 square feet (sq ft) at 163 Wai Yip Street with a total gross floor area of around 235,300 sq ft.

The hotel also houses 598 guests.

ALSO READ: HK is Asian market with the third most expensive hotel room rate

Meanwhile, the Jone Mult Industrial Building at 169 Wai Yio Street with a site area of 10,200 sq ft is being sold for $180m.

JLL said the 56.7% ownerships released for sale represent a total area of 42,000 sq ft, and is offered at $4,200 sq ft which is 16% lower than the average prices of nearby industrial buildings.

JLL said the individual owners who hold 15% of the total expressed their intention to sell their ownerships, which could bring the total shares for sale up to 70%.

 

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