International real estate firm Savills is appointed as the sole agent by order of the owner for the sale of 37 Cumberland Road, Kowloon Tong ("The Property"). The Property occupies a spacious 9,684 square feet site and currently operates as a two-storey block used as a hotel. The Property can be sold either together with the existing guesthouse license or through the transfer of company shares, allowing investors to capitalize on an additional business opportunity and enhancing the Property's liquidity.
The Existing Property features nearly 8,000 square feet of outdoor space, which is large enough to accommodate a standard tennis court, basketball court, private parking area for 7 cars, or other varied facilities. This presents an opportunity for the buyer to create a customized garden villa. According to the Outline Zoning Plan, the plot ratio of the site is 0.6. If additional land premium is paid and approvals are obtained, the maximum redevelopment area could be around 5,810 square feet in addition of a storey of basement carpark.
The Property is located in the traditional low-density residential area of Kowloon Tong, offering a tranquil environment. It is approximately a 10-minute walk from Festival Walk and the Kowloon Tong MTR station, providing excellent transportation convenience. The area is well-equipped with several prestigious private clubs, such as Kowloon Tong Club, Kowloon Tsai Home Owners Association, and Yau Yat Chuen Garden City Club.
Furthermore, the Property is situated within the best school network of Kowloon, with renowned schools including La Salle College, Maryknoll Convent School, American International School, and Australian International School. It is also within a 5–12-minute drive from Hong Kong Baptist University and City University of Hong Kong.
Mr. Terry Tan, Senior Manager, Residential Sales - Development and Investment of Savills, stated, “This is the first time for sale by the existing vendor, currently asking for HK$ 198 million. It presents an ideal opportunity for refurbishment or redevelopment for self-use. This property is a must-see for end-users and institutions who particularly require spacious outdoor areas.”