Former Cityplaza One Seeks Approval for 10-Floor Expansion with Sky Garden
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
The Planning Authority has issued a no-objection recommendation for a major expansion project at the Quarry Bay commercial building at 1111 King's Road (formerly Cityplaza One). Owned by private equity firms Gaw Capital and Schroder Pamfleet, the 28-storey building would gain 10 additional floors, reaching 38 storeys, with a gross floor area increasing to 1.325 million square feet. A standout feature of the proposal is a sky garden on the 28th floor, designed as a multi-functional space for yoga, jogging, and other activities accessible to both office workers and the public. The Town Planning Board will deliberate on the application this Friday.
Key Points
- The site at 1111 King's Road spans approximately 1.36 hectares, encompassing the commercial building, Cityplaza, and Hong Kong East hotel
- The building height limit has been reduced from the originally proposed 165 meters to 149.8 meters above Principal Datum
- Gross floor area limit would be relaxed by 15.5% to 1,531,200 square feet, adding 205,900 square feet
- Seven of the 10 new floors would serve as office space, with the 28th floor designated as a combined fire floor and sky garden
- Gaw Capital and Schroder Pamfleet acquired the property in 2020 for HK$9.845 billion, or approximately HK$15,609 per square foot
Why It Matters
The proposed expansion represents a significant urban renewal opportunity in Hong Kong's dense commercial core, transforming a single office tower into a more community-oriented development through public amenities such as the sky garden and upgraded pedestrian facilities. With completion expected in 2029, the project demonstrates how private equity investors are seeking to maximize returns on core commercial assets by leveraging Hong Kong's flexible planning regime.
The proposed expansion represents a significant urban renewal opportunity in Hong Kong's dense commercial core, transforming a single office tower into a more community-oriented development through public amenities such as the sky garden and upgraded pedestrian facilities. With completion expected in 2029, the project demonstrates how private equity investors are seeking to maximize returns on core commercial assets by leveraging Hong Kong's flexible planning regime.