Tsim Sha Tsui commercial building enters market at $200m

The total gross area is 19,923 square feet.

A commercial building at No. 80 Kimberley Road Tsim Sha Tsui is up for sale at $200m.

According to JLL, the property’s sole marketing agent, the asset is a 14-storey building with a total gross area of 19,923 square feet (sq. ft.) and is classified as ‘Commercial (6)’ with a site area of 1,898 sq. ft.

The retail area occupies 3,500 sq. ft. whilst the first to twelfth floors are licensed guesthouses with 45 rooms and can be converted into student accommodations.

The asset is located near Jordan, Tsim Sha Tsui, and East Tsim Sha Tsui MTR stations, and West Kowloon High-Speed Railway Station.  

"The supply of student accommodations has fallen short of the growing demand, and the influx of non-local students will create a demand for 20,000-bed spaces in the next four years,” Lydia Poon, senior director of Capital Markets at JLL in Hong Kong, said.  

The property will be sold on an 'as-is' basis and subject to existing tenancies.