News release

JLL concludes sales of a basket of properties in Kowloon

September 26, 2022

Yvonne Liu

Public Relations Director, Hong Kong and Macao
+852 2846 5264

HONG KONG, 26 September 2022 – JLL is delighted to announce that it has successfully concluded the sale of a basket of retail and residential properties at Kin Sun Building, Nos. 11-19 Yen Chow Street in West Kowloon, with total consideration of around HK$100 million.

It included six retail shops on ground floor with a total gross area of approximately 3,914 sq. ft., which were sold to Bridgeway Prime Shop Fund at HK$70 million, and nine residential units with a total saleable area of approx. 5,612 sq. ft., were sold to Max Poon, Founder of Owl Square Co-living, and Laurence Chan, Chairman of AL Group Limited (8360) together with other related parties.

Edwin Lee, Founder of Bridgeway Prime Shop Fund, said “The Property is located at the junction of Yen Chow Street and Hai Tan Street, all these six connecting corner shops with wide frontage are very rare in the area. With numerous residential redevelopment projects nearby, I am very optimistic about the price appreciation potential of this investment. These shops are all sold subject to tenancies and all of the existing tenants are local retailers serving the community. The shops provide a passing yield of 3%, and I expect that when nearby projects are completed, projected yield could achieve 5%, which is very attractive. Total shop frontage is around 125 feet, and the ceiling height is about 4.7 meter, these shops are in very decent shape.”

Max Poon, Founder of Owl Square Co-living, said “Sham Shui Po is a core location, with well-established infrastructure and facilities, including large shopping malls like V Walk, Dragon Centre and Golden Computer Centre, etc. and it is turning to be a future cultural hub. It takes only 7 minutes’ walk from the Property to Sham Shui Po Station or Nam Cheong Station. It is very convenient to travel to different parts of Hong Kong from the Property. I can see huge potential in this area, and we would transform all these 9 residential units into high quality and affordable living options to young professionals.”

“Sham Shui Po is experiencing huge transformation and undergoing active gentrification. The Property is in the vicinity of various upcoming large-scale residential developments led by major developers such as New World Development, Vanke, and Paliburg, etc. Following the completion of all these projects, investors could improve the tenant mix of the Property to boost the rental yield. The return of this property has yet fully maximised, and we see enormous potential here,” said Lydia Poon, Senior Director of Hong Kong Capital Markets at JLL, who concluded the transactions.

Bridgeway Prime Shop Fund Management Limited (“Bridgeway”) is the first SFC-licensed financial institution in Hong Kong that focuses on shop investments. It enables shop buyers to buy and hold high quality retail properties and enjoy rental return hassle-free. With deep industry knowledge, technical expertise and market insight, they acquire many prime shop properties in Hong Kong with an aim to create win-win situation for both tenants and owners. To optimize the long-term value of their shop properties, they leverage their broad tenant network to find suitable tenants for their shops.

Owl Square Co-living is formed by a group of young professionals, aiming to provide affordable, safe yet conveniently located co-living spaces to tenants. The brand offers over 300 innovative and digitalized residential units in 13 core locations among Kowloon and Hong Kong Island. It provides flexible housing solution for the changing needs of young professionals and creates sustainable value to the society.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit