International real estate firm Savills has been appointed as the sole agent by the owner for the tender sale of two whole-block hotels: 1) M1 Hotel, Nos. 28-32 Portland Street, Mongkok, and 2) M1 Hotel, No.112 Chun Yeung Street, North Point. The tender closing date is scheduled for 24 November 2025 (Monday) at noon.
M1 Hotel, Nos. 28-32 Portland Street, Mongkok
The property is a 27-storey hotel. The main entrance lobby locate on the ground floor, while the first floor features a popular Western restaurant. Guest rooms are located from the fifth floor upwards, with a total gross floor area of approximately 24,729 square feet and currently comprising 93 rooms.
Situated in a prime location in the heart of Mongkok, near Nathan Road and the bustling commercial district, the property benefits from high foot traffic from both tourists and local consumers. It is just a 2-minute walk from Yau Ma Tei MTR Station and is well-served by multiple bus routes, offering excellent transport connectivity. The surrounding area is well-developed with comprehensive amenities. The property will be sold on an "as-is" basis with vacant possession. It currently generates stable monthly income and presents long-term investment potential.
M1 Hotel, No.112 Chun Yeung Street, North Point
The property is a 27-storey hotel with retail space and a lobby on the ground floor. It has a total approved gross floor area of approximately 30,224 square feet and comprises 92 guest rooms, ranging in size from 151 to 238 square feet, offering a spacious feel. Located in the heart of North Point, the property enjoys a prime location. It is approximately a 5-minute walk to North Point MTR Station and around 8 minutes to North Point Ferry Pier, providing excellent transport connectivity. Situated in a popular tourist hotspot, the hotel maintains a consistently high occupancy rate. The property will be sold on an "as-is" basis with vacant possession and offers strong investment potential.
Investment team at Savills Hong Kong said, “The two hotel properties offered for sale each have an indicative price of approximately HKD 230 million. Benefiting from the ‘Hostels in the City Scheme’ and the proposed expansion of non-local student quotas outlined in the Policy Address, market demand for student accommodation is expected to rise significantly. Both hotels have strong conversion potential, allowing new owners to reposition them as student residences, which would appeal to non-local students and substantially boost rental income. The estimated yield could reach around 6% or above. The properties are available for sale either individually or as a portfolio.”