JD.com Buys Another Entire Building! The 5643rd transaction saw an entire hotel in Wan Chai sold for HK$280 million, to be converted into student dormitories. (Economic Daily News) Student dormitories have become investment targets. An entire hotel on Hennessy Road in Wan Chai, owned by a mainland group, was sold for HK$280 million, involving 59 rooms. JD.com is considered the most likely buyer, and the property will be converted into student dormitories.
Market sources indicate that an entire hotel on Hennessy Road in Wan Chai has been sold. The property in question is “218 Apartment” at 218 Hennessy Road, with a site area of approximately 2,180 square feet and a total floor area of approximately 32,695 square feet. Located in the heart of Wan Chai, near the MTR station, the project is currently used as a hotel. Floors 6 to 27 offer 59 rooms, each ranging from approximately 370 to 460 square feet. It is understood that the project also offers serviced apartments for monthly rent, starting from over HK$20,000.
Located in a prime location near an MTR station
It is understood that the property, previously put up for sale by the owner, has now been sold for approximately HK$280 million, at a price of approximately HK$8,564 per square foot, averaging approximately HK$4.75 million per unit. According to available information, the project is owned by the mainland company Shoukai Group, which purchased it in 2007 for HK$178 million. Originally a commercial building, the property was renovated and converted into a hotel, which it has held for rental purposes ever since.
Market sources indicate that JD.com is the most likely buyer, and the hotel is expected to be converted into student dormitories. Given the project’s convenient transportation, it is well-suited for this purpose.
In fact, JD.com has already entered the student dormitory market. Last month, Far East Development sold the Yau Ma Tei Harbour View Silky Hotel for HK$750 million to JD.com. The property was originally a hotel, but has been converted into student dormitories in recent years, with the remaining 76 rooms expected to be fully converted by the second half of 2026.
Targeting Business Opportunities: Multiple Hotel Transactions Completed This Year
According to the agreement, Far East Development will continue as the project manager, managing and operating the property as student accommodation for a period of three years, with guaranteed annual income payments during that period. The property has a total floor area of approximately 67,826 square feet and provides 268 rooms. Based on the transaction price, the price per square foot is approximately HK$11,000, averaging approximately HK$2.8 million per room. It is believed that JD.com’s acquisition of the hotel will further expand its student accommodation business, hence the purchase of another hotel.
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From 2025 to the first half of 2026, The Grand Central has successfully sold 24 street shops in Hong Kong, totaling HK$396 million. The following 8 properties are now available for sale at reduced prices until July 2026:
The following properties offer high returns: up to 5%:
(1) Shops 1, 10, 11, 12 & 13, Princess Building, King’s Road, Fortress Hill – Miss Ice Room
Original Price: HKD 65 million Now Available: HKD 42 million 4.9% Return
(2) Ground Floor & Mezzanine, 20-24 Ma Sha Street, Sheung Wan – Reveri
Original Price: HKD 38 million Now Available: HKD 33.9 million 4.6% Return
(3) Ground Floor & Mezzanine, 108 Fa Yuen Street, Mong Kok – Yin Jin Dim Sum
Original Price: HKD 33 million Now Available: HKD 22.9 million 4.6% Return
(4) The Madhouse, 16 Dyeing Fong Street, Mong Kok
Original Price: HKD 28 million Now Available: HKD 20.8 million 4.6% return
(5) Shop No. 3 and mezzanine of Kam Fai Road, Yuen Long – Egg Waffle Snacks
HKD 11 million, now for sale HKD 9.1 million, 4.6% return
Other prime shops for sale:
(6) Shop No. 4, B/F, Kai Fung Building, 10 So Hang Street, Sheung Wan
HKD 21 million, now for sale HKD 17 million
(7) Shop No. C, G/F, 111-121 Sai Yee Street, Mong Kok
HKD 28 million, now for sale HKD 22 million
(8) Shop M, Yun Tung Building, 65-75 Luther Road, Tsuen Wan
HKD 24 million Listing for sale at HK$20.4 million
Valid until July 30, 2026
Detailed listing plans and photos:
Contact me (Edwin Lee 90361143) or my colleagues:
Desmond Chan 9660 2253 / Vivian Lee 9311 9274 / Marc Kwok 6092 6444 (Head)
www.bwfund.com
Dr. Edwin Lee, Founder of BW Fund
Since the establishment of the fund in 2016, he has purchased 133 street-level shops in Hong Kong, totaling HK$2.224 billion. His life goal is to buy 1,000 street-level shops in Hong Kong.
www.edwinlee.com.hk
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