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Acquisition & Sale of Aged Properties

The demand for urban land in ​​Hong Kong has been imperative in recent years, while the deteriorating rate of the urban area has accelerated dramatically. Since 2010, the application threshold for Land "Compulsory Sale for Redevelopment" has also been reduced from 90% to 80%, encouraging the merger and acquisition, joint sale and Land "Compulsory Sale for Redevelopment" of old buildings in the urban area become more and more active. In view of the above, Centaline Surveyors provides related valuation, consulting and agency services, and mainly targets at the following four types of clients:

  • Owners of old buildings who intend to consolidate titles or have integrated most of the titles for participating in joint sale;

  • Consortia or developers who have the intention to acquire old buildings or have acquisition targets;

  • Old building owners who have received a purchase intention or offer from a developer or consortia but are unsure of the reasonable purchase price;

  • Owners or groups of owners who hold minority titles and facing Land "Compulsory Sale for Redevelopment", and wish to appeal to the Lands Tribunal for reasons like property valuation. (i.e. "minority owners")

Acting as Consultants and Agents for Joint Sale of Old Buildings


To improve the living environment and release the value of the properties held, many old building owners hope that their flats can be acquired at the redevelopment value, Some owners even form groups, intending to sell the majority or all titles in the joint sale to attract developers or consortia for acquisition.


The real situation and demand of each owner in the actual operation can be quite different. Also the legal procedures, payment arrangements and document signing involved in the sale are complicated. Together with the lack of relevant professional knowledge, experience and exposure, owners often encounter obstacles in the process of grouping with other owners, determining of the sale price and the apportionment proportion and finding purchasers etc.

Centaline Surveyor utilizes its own professional qualifications and Centaline Group's advantages in market resource to help owners solve various problems in the joint sale process. We provide the following services:

● Study the redevelopment potential and feasibility of the property

● Provide proposed selling price of the en-bloc building for owners’ reference;

● Taking owner's intention for unit price as a reference to determine the intention for overall acquisition price

● During the joint sale process, we provide reasonable suggested proceeds distribution proposal for owners’ decision;

● Mediate and resolve disputes between owners, aiming at a target of 100% undivided shares participation

● Actively find suitable vendee(s) for owners via tenders or private treaty

● Acting on behalf of the owner of the old building to negotiate with the purchaser to ensure that the old building can be sold at the most reasonable value


In the related work in recent years, both independent clients and collective clients trust us absolutely. With the strong advantages of the brand of Centaline Group and our marketing capabilities, our services have been extended to some of the largest joint sales projects in Hong Kong. Together with the support of the professional and well-experienced valuation team of Centaline Surveyors, we have successfully completed the following large-scale joint sale projects:


Nos.5-11 Dragon Road , Tin Hau

Site Area : Approx. 9,000 sq. ft.

No. of Units : 24

Participation of Undivided Shares : 100%

Transacted Price : Approx. HK$335,000,000.00


Nos.1-3 and Nos.6-15

New Eastern Terrace , Tin Hau

Site Area :  Approx. 35,482 sq. ft.

No. of Units : 52

Participation of Undivided Shares : 100%

Transacted Price : Approx. HK$650,000,000.00

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Wai Oi Mansion , No.5 Kai Yuen Street , North Point

Site Area :  Approx. 5,197 sq. ft.

No. of Units : 40

Participation of Undivided Shares : 100%

Transacted Price : Approx. HK$230,000,000.00

九龍灣觀塘道53-55A號 啟德大廈 舊樓收購合併.jpg

Kai Tak Mansion , Nos. 53-55A Kwun Tong Road, Kowloon Bay

Site Area :  Approx. 61,497 sq. ft.

No. of Units : 300

Participation of Undivided Shares : 80%

Transacted Price : Approx. HK$1,100,000,000.00

Help the purchaser complete the acquisition of old buildings

For developers or consortia that have the intention to acquire old buildings, or already have suitable acquisition targets, especially the China-affiliated institutions that have just entered the Hong Kong market and are still not familiar with the relevant regulations and procedures for acquiring old buildings, we can act as a third-party consultant or agent to answer or solve the difficult problems encountered in the merger and acquisition and Land "Compulsory Sale for Redevelopment" process, so as to facilitate the completion of old building redevelopment. The services we provide include:


● As an referrer, recommend to the potential purchaser the existing old building joint sales resources of Centaline Group;

● Study the redevelopment potential of the subject property and recommend the optimum development scheme of the property;

● Formulate a reasonable acquisition price and apportionment scheme for the en-bloc property for the purchaser;

● Acting as an independent third party or agent to communicate and negotiate with the owners of the old building, and maximize the undivided shares participation;

● In entering into the stage of Land "Compulsory Sale for Redevelopment" process, issue an assessment report of redevelopment value for submission to the Land Tribunal which serve as a reference for the reserve price.

Valuation services for Land "Compulsory Sale for Redevelopment"


For owners of old buildings that have received an acquisition offer from a developer, they often face issues concerning whether the acquisition price is reasonable and whether it can sufficiently reflect the redevelopment value. In addition to the acquisition price offered by the developer, the minority owners may wish to appoint an independent third-party surveyor to estimate whether the acquisition price is reasonable.


For minority owners or lawyers hired by the minority owners who have not accepted the developer’s previous acquisition offer, but the lot of the unit they hold has already entered into the Land "Compulsory Sale for Redevelopment" process, if they have disputes about the valuation, they may also need to appoint a surveyor to issue an expert valuation report as the basis for the Land Tribunal to go through hearing and make its decision.


Centaline Surveyors is well- experienced and possesses professional qualifications in valuation for property redevelopment, and provides the following valuation-related services to minority owners in the above situations:


● Provide minority owners with a redevelopment valuation report for internal reference, or issue an expert valuation report that can go through the hearing process at the Lands Tribunal;

● At the summons of the Tribunal, act as an expert witness and participate in subsequent court trials or meetings.


The use and development value of land and the properties on it are restricted by three tiers: town planning (statutory plan), land (land lease) and Building (Planning) Regulations, and affected by its location, view, accessibility, etc. at the same time. It will fluctuate according to the market and overall economic conditions. In the assessment of value of property, many factors have to be considered which involves comprehensive professional analysis. We sincerely recommend minority owners consult with a professional surveyor on related matters.

Acquisition & Sale of Aged Properties

T: (852) 2139-6622

F: (852) 2139-6636

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