CBRE Appointed as the Sole Agent for the Sale of Entire Top Floor of Inter-Continental Plaza, No. 94 Granville Road, Tsim Sha Tsui

CBRE has been appointed as the sole agent for the sale of an office investment property located in the core Tsim Sha Tsui East district, the entire top floor (12/F) of Inter-Continental Plaza, No. 94 Granville Road, Tsim Sha Tsui. The property is offered on an “as-is” basis with existing tenancies and is available for sale as a whole floor or on a split-unit basis, making it suitable for long-term investors as well as owner occupiers.

The property has a gross floor area of approximately 13,020 sq. ft., comprising nine stratified units. All units are currently fully leased, generating a total monthly rental income of approximately HK$380,000, providing immediate and stable cash flow. The owner is offering the property to the market at an indicative price of approximately HK$118 million. Two selected preferential units, each measuring 815 sq. ft., have been launched at an initial promotional price of HK$5.55 million per unit, translating to a minimum unit price of only HK$6,810 per sq. ft., representing an attractive pricing level compared with similar office properties in Tsim Sha Tsui East.

Prime Location Advantage - Academic and Community Upgrades to Drive Future Prospects

Inter-Continental Plaza is situated in a well-established commercial district in Tsim Sha Tsui East, enjoying convenient access to major arterial roads and the MTR network. Notably, the podium basement to 3/F retail portion of the same building was previously acquired by the City University of Hong Kong for approximately HK$880 million (equivalent to about HK$9,700 per sq. ft.) and is currently undergoing extensive renovation. The space is expected to be converted for academic use and commence operation next year, which will further enhance the overall image of the building and increase pedestrian traffic.

In recent years, Tsim Sha Tsui has experienced a notable transformation in urban functions. Multiple hotel properties in the district have been converted into student accommodations, including The Bauhinia Hotel, No. 2 Austin Road, No. 80 Kimberley Road, and One Pace 117. This trend reflects sustained market demand for education-related and long-term accommodation uses, with the area’s ambience and tenant mix gradually improving.

Office Market Recovery, Subdivision Flexibility as a Key Investment Highlight

As Hong Kong’s office market shows signs of gradual stabilization, both end-users and investors are returning to the market, with whole-floor office units in core districts once again gaining attention. In addition to serving as a long-term rental investment, the subject property offers future potential for unit subdivision and resale, providing investors with diversified exit strategies.

Daniel Mok, Senior Director, Capital Markets, CBRE Hong Kong, said: “Tsim Sha Tsui East is a traditional core business district with limited supply, and entire top-floor office plates are particularly rare. Coupled with City University’s presence within the same building and the continuous increase in student accommodation and education-related uses in the vicinity, the medium- to long-term outlook of this project is becoming increasingly clear. With its competitive pricing, the property is highly attractive to both rental investors and buyers planning medium- to long-term self-use and resale strategies.”

For any additional details about the sole agency, please contact Daniel Mok, Senior Director (Tel: 852 6072 6980 | E-289498852 6072 6980 | E-289498), or Murphy Dik, Associate Director (Tel: +852 9819 4953 | S-557916) Capital Markets, CBRE Hong Kong.



Property Advertising Number: CBRE-CM-ADV5366