CBRE Appointed as Sole Agent to Sell Whole of Ground Floor and First Floor, Harbour View Garden Tower III, No. 2 Catchick Street, Kennedy Town

CBRE has been appointed as the sole agent for the sale of the entire retail podium of Harbour View Garden Tower III, located at No. 2 Catchick Street, Kennedy Town. The property comprises the ground and first floors of the building, offered for sale with an indicative price of HK$180 million, representing an expected yield of approximately 4.5% (provided by the owner), on fully-let basis.

The property enjoys an exceptional location at a prominent corner site at the intersection of Catchick Street and North Street, just a two-minute walk from Kennedy Town MTR Station. The owner has invested a substantial sum in a comprehensive refurbishment programme. Enhancements include not only modernised façade works, but also major upgrades to the electrical & mechanical systems and fire services installations. A brand-new direct lift has been installed to provide seamless vertical circulation between ground floor and first floor, significantly enhancing the accessibility, tenant exposure, and overall commercial value. The flexible layout is suitable for a wide range of retail and service uses.

The property has successfully attracted several well-known tenants, including a convenience store, a 24-hour fitness centre, and the only cinema in the Western District, offering both a diversified income stream for the future purchaser and lifestyle with essential services to local residents. Based on the owner’s latest asking price of HK$180 million, the estimated gross yield is around 4.5% on a fully-let basis (provided by the owner).

The subject property has a total GFA approx. 24,884 sq ft (first floor: approx. 13,923 sq ft & ground floor: approx. 10,961 sq ft) and has high ceilings (ground floor: approx. 4.95 metres & first floor: approx. 4.55 metres.)

Mr. Daniel Mok, Senior Director, Capital Markets, CBRE Hong Kong, said: “Many investors are concerned about the future capital expenditure in older buildings. This property has already undergone comprehensive upgrades to its E&M and fire services, allowing buyers to avoid major renovation costs for the next 10 to 15 years and enjoy stable income immediately. The property also benefits from an extremely rare 999-year lease, offering near-perpetual ownership — a true scarcity in the market. The asset stands out for both income generation and long-term capital preservation.”

Mr. Sam Tsang, Director, Capital Markets, CBRE Hong Kong, added: “With its independent access, 24-hour operation capability, and flexible layout, the property is well-suited not only for cinema and fitness uses, but also for future conversion into large-scale educational institutions, religious organisations, medical centres, or flagship F&B concepts. Demand from universities and religious groups for large-format retail spaces exceeding 10,000 sq ft has been very active, making this a rare and highly sought-after offering.”


For further information, please contact: Mr. Daniel Mok, Senior Director, Capital Markets, CBRE Hong Kong (E-289498 | Tel: +852 6072 6980), or Mr. Sam Tsang, Director, Capital Markets, CBRE Hong Kong (S-443410 | Tel: +852 6593 7190)


Property Advertisement No.: CBRE-CM-ADV3476b