International real estate firm Savills has been appointed as the sole agent for the tender sale of the en-bloc hotel at No. 163 Wai Yip Street, Kowloon ("The Property"). The Property has a total gross floor area of 241,686 square feet and offers 598 guest rooms, making it one of the few sizable, en-bloc hotel assets available in Kowloon East. The tender will close at 12:00 noon on 16 November 2026 (Monday).
The Property comprises a 31-storey building with guest rooms ranging in size from approximately 200 to 400 square feet. It is supported by comprehensive amenities and communal facilities, including shops, a lobby, restaurant, car parking spaces, podium areas and back-of-house areas.
Commanding expansive waterfront views across Kowloon East and benefits from an efficient floor layout, making it suitable for immediate operation. At the same time, it offers strong potential for repositioning and conversion into student accommodation. The Property enjoys excellent connectivity, with Ngau Tau Kok MTR Station located approximately a 5-minute walk away and several of Hong Kong's major higher education institutions accessible within a 10 to 20-minute drive. Coupled with the district's well-established commercial, retail and lifestyle amenities, the Property is ideally positioned for student housing development.
The Property is situated adjacent to the Kwun Tong Promenade and the core Kowloon East central business district. Major commercial landmarks, including Millennium City, apm and Landmark East, are all within an approximately 10-minute walk. The Property also benefits from its proximity to The Millennity, a newly completed commercial landmark comprising Grade A office space, extensive retail offerings and a diverse range of food and beverage outlets. These comprehensive shopping, dining and lifestyle amenities further enhance the district's commercial vibrancy and convenience, catering to the daily needs of business travellers, long-stay guests and student residents alike.
Mr. Peter Yuen, Managing Director of Investment at Savills Hong Kong said, “The Property represents a rare large-scale en-bloc hotel asset in Kowloon East, comprising 598 guest rooms with flexible and diverse room configurations, offering considerable adaptability for different uses. As Hong Kong continues to strengthen its position as an international education hub, the number of non-local students has been steadily increasing, driving significant growth in demand for student accommodation. However, the supply of high-quality, large-scale assets suitable for student housing conversion remains extremely limited.
This offering presents a compelling opportunity for investors, given the Property’s strong conversion potential and development flexibility for transformation into a student accommodation project. Coupled with its prime location in the heart of Kowloon East, excellent transport connectivity, and comprehensive surrounding commercial and lifestyle amenities, we believe the Property will attract strong interest from hotel operators, student accommodation operators, funds and institutional investors alike.”
Property video: https://sav.li/4OoTy9