A residential site in Kowloon City is being sold by public tender, with an estimated value of around HK$195 million, according to joint agents Colliers and CBRE.

The site at 93 and 95 Hau Wong Road measures approximately 3,042 square feet and offers a total gross floor area of about 27,378 sq ft.

The site is a five-minute walk from Sung Wong Toi MTR station on the Tuen Ma Line and near a redevelopment project by the Urban Renewal Authority.

It is also near the Kai Tak Development Area, suggesting significant future property appreciation potential, said Thomas Chak, head of capital market and investment services at Colliers.