CBRE handles sale of Eco Tree Hotel Hong Kong

Tender deadline is on 26 September, 12 p.m.

CBRE has been appointed as the sole agent for the public tender sale of Eco Tree Hotel Hong Kong at No. 160 Des Voeux Road West.

The 24-storey Eco Tree Hotel Hong Kong has a true plot ratio gross floor area of approximately 66,144 square feet (sq. ft.). It was converted into a hotel in 2015, featuring 93 guest rooms, and commercial spaces currently occupied by restaurants and spa centres, as well as offices. 

The property is a five-minute drive from the International Finance Centre in Central and a seven-minute drive from the main entrance of the University of Hong Kong. The establishment is also connected to the Sai Ying Pun MTR station (Exit A2), one stop away from the University of Hong Kong station and two stops from Central station.

Reeves Yan, executive director, head of Capital Markets at CBRE Hong Kong said high-quality hotel buildings in Sheung Wan and Sai Ying Pun have always been in high demand amongst institutional investors. For instance, the Ovolo Hotel on Queen’s Road Central in Sheung Wan was acquired by the foreign fund PGIM in partnership with the local co-living brand Dash Living for approximately $320m in February 2024, with an average price of $12,300 per sq. ft. The same consortium also acquired the Travelodge Hotel in Sheung Wan for approximately $850m in 2022, with an average price of $16,600 per sq. ft. 

Meanwhile, the Grand City Hotel in Sai Ying Pun was sold for $900m in 2022, with an average price of $15,000 per sq. ft. The buyer was a consortium formed by the American fund Angelo Gordon and a co-living sector operator Weave Living.