Kwun Tong Dual-Floor Sea-View Office Building Listed for Sale at HK$9,800 per Sq Ft
On.cc · 1 SOURCESabout 2 hours ago6 MIN
Summary
CBRE has been appointed to sell the entire 27th and 28th floors of Sipao International Building (絲寶國際大廈) at 108 Wai Yip Street in Kwun Tong's waterfront district. This rare linked penthouse office offering spans two of the building's highest floors, covering a combined gross area of approximately 34,616 square feet. Market estimates value the property at around HK$9,800 per square foot, translating to a total transaction size of approximately HK$339 million. The sale encompasses six parking spaces on the second floor and two exclusive exterior signage positions, both highly uncommon features for office units in Kowloon East.
Key Points
- The property is located at 108 Wai Yip Street (偉業街108號), occupying the 27th and 28th floors of Sipao International Building, making it one of the most distinctive linked penthouse offerings in the Kowloon East market .
- Each floor has a gross area of approximately 17,308 square feet, with a practical efficiency rate of about 79 percent, allowing flexible configuration of administrative offices, open workstations, boardrooms, and client reception areas .
- Six parking spaces situated on the second floor are included in the sale, along with two exterior signage positions that can enhance corporate branding and market visibility for prospective buyers .
- The property is approximately a five-minute walk from Ngau Tau Chi MTR Station, providing convenient access to major commercial districts across Hong Kong Island, Kowloon, and the New Territories .
- Kelvin Yan Jun-min (甄浚岷), Managing Director and Head of Capital Markets at CBRE Hong Kong, noted that prime office acquisition thresholds have become more attractive following price corrections in the Grade A office market .
Why It Matters
The listing reflects improving sentiment in Hong Kong's Grade A office market during the first half of 2026, with leasing and expansion activities showing significant year-over-year growth. Financial and professional services firms are increasingly seeking quality office spaces, with some choosing to purchase self-use properties to consolidate operations, control long-term costs, and strengthen corporate image. This transaction could set a benchmark for future penthouse office sales in the Kwun Tong business district.
The listing reflects improving sentiment in Hong Kong's Grade A office market during the first half of 2026, with leasing and expansion activities showing significant year-over-year growth. Financial and professional services firms are increasingly seeking quality office spaces, with some choosing to purchase self-use properties to consolidate operations, control long-term costs, and strengthen corporate image. This transaction could set a benchmark for future penthouse office sales in the Kwun Tong business district.