128, Waterloo

128 Waterloo is located at 128 Waterloo Road, comprising a single residential tower developed by Top Spring International Holdings Limited and China City Construction Group Holdings Limited, with construction undertaken by Cheung Kee Fung Cheung Construction Co., Ltd. It offers a total of 110 units with diverse layouts ranging from 1 to 4 bedrooms, with a focus on 2-bedroom units. Unit sizes range from 331 to 3,445 square feet, each featuring a balcony. The estate stands 18 stories tall, with residential floors from 3 to 21, serviced by 3 elevators. Standard floors accommodate 7 to 8 units each, with additional units featuring platforms and top-floor special units. The project is scheduled for completion in February 2022.

Project Background

The project was formerly an 11-story old building owned by CLP Power Hong Kong Limited, occupying approximately 18,210 square feet of land with a construction area of about 80,950 square feet. In October 2016, China City Construction Group Holdings Limited acquired the entire property from CLP for $668 million, at a rate of approximately $8,252 per square foot.

In March 2018, Top Spring International Holdings Limited acquired 60% equity in the project from China City Construction Group Holdings Limited's parent company for approximately $470 million. In May 2018, the project obtained building plans approval from the Buildings Department for a total floor area of approximately 89,799 square feet, with a residential floor area of 85,739 square feet.

Unit Analysis

• 1-bedroom: 19 units, ranging from 331 to 342 square feet, covering 2 columns.
• 2-bedroom: 61 units, sized from 521 to 3,445 square feet, covering 4 columns.
• 3-bedroom: 15 units, sized from 527 to 842 square feet, covering 1 column.
• 4-bedroom: 15 units, each sized at 1,258 square feet, covering 1 column.

Landscape Analysis

The estate faces north to Boundary Street and Maryknoll Convent School, east to Earl Street, south to Prince Edward Road West, and west to Waterloo Road. Most units offer surrounding urban views, with lower buildings to the north providing relatively open vistas.

The primary views from the estate are to the north or west. Units facing north (Units D to H) offer lower-level views of the school campus, potentially experiencing noise concerns, while higher levels enjoy distant views of Lion Rock's lush greenery. Units facing west (Units A to C) overlook another residential tower and have views of the Kowloon Tong urban area. Units facing west and located closer to Waterloo Road may experience noise from traffic at lower levels. The surrounding residential density is relatively low, providing overall open views. It's worth noting that the estate's exterior features glass design, significantly enhancing natural lighting.

Estate Facilities

The estate's 2nd floor features a clubhouse spanning over 6,000 square feet, including an infinity pool, gym, and children's playground. Additionally, the basement and ground floors of the estate provide 32 resident parking spaces, 2 motorcycle parking spaces, and 4 visitor parking spaces. The estate is managed by Jones Lang LaSalle Property Management Limited.

Community Facilities

Nearby Prince Edward Road West and Argyle Street feature convenience stores and eateries, catering to basic lifestyle needs. For more options, residents can visit MOKO Grand Century Place, a large shopping mall located above Mong Kok East MTR Station, offering various restaurants, shops, and chain brands. Moreover, outdoor recreational spaces such as Kowloon Tsai Park, Fa Hui Park, Tai Hang Tung Recreation Ground, Tin Kwong Road Recreation Ground, and Oxford Road Playground are available in the area, providing a well-rounded community environment.

Transportation

It takes about 10 minutes to walk to Prince Edward Station and Mong Kok East Station. Multiple bus and minibus routes are available downstairs, connecting various districts in Hong Kong, Kowloon, and the New Territories, including Kennedy Town, Central, Admiralty, Happy Valley, Mei Foo, Hung Hom, Whampoa, Kwun Tong, Kowloon Bay, and Tsim Sha Tsui.

School Network

128 Waterloo falls within Primary School Network 34 and the secondary school network in the Kowloon City District. Popular primary schools in the area include the Heep Yunn Primary School, St. Rose of Lima's School, Po Leung Kuk Ho Sau Nan Primary School, and Chan Lui Ki (La Salle) Primary School.

Initial Sales Arrangements

128 Waterloo commenced its initial sales on October 6, 2020, offering 3 payment plans. The highest discount is 15% for cash payment and 11% for stage payment. The lowest net selling price starts at $78.28 million, equivalent to $27,676 per square foot. Show units are located in the basement of 348 Nathan Road, featuring Unit F on the 18th floor (551 square feet) and Unit D on the 18th floor (842 square feet).