Mega Shop In Hong Kong For Sale By Public Tender
CB Richard Ellis has been appointed by the owner as the sole agent to market the sale of G/F and M/F, Hang Lung Bank Tsimshatsui Branch Building, 46-48 Granville Road in Tsimshatsui by way of public tender. The tender closing date is 12:00 noon on 31 July 2008
Hong Kong (PRWEB) July 1, 2008 -- CB Richard Ellis has been appointed by the owner as the sole agent to market the sale of G/F and M/F, Hang Lung Bank Tsimshatsui Branch Building, 46-48 Granville Road in Tsimshatsui by way of public tender. The tender closing date is 12:00 noon on 31 July 2008 (Thursday).
The property comprises of the whole of G/F and M/F which are connected by an internal staircase and has a total saleable area of about 6,000 sq. ft. The G/F shop occupies 4,000 sq. ft. and enjoys an extensive frontage of 33 feet onto Granville Road. Located in the heart of Tsimshatsui, the property is within close proximity to the MTR exits and commands considerable pedestrian flow, which is inevitably a golden investment opportunity.
Hong Kong's retail market has been benefited from the increasing number of mainland visitor arrivals. The buoyant purchasing power of the mainlanders resulting from the continued appreciation of RMB has stimulated a strong demand for retail shops.
"Tsimshatsui has long been one of the most prosperous shopping and tourist districts in Hong Kong and the shops in this area have high potential of rental growth. In addition, upon the completion of the URA hotel redevelopment project at Hanoi Road and the retail complex redevelopment projects at the former Hyatt Regency and Tung Ying Building in the coming years, Tsimshatsui's status as Hong Kong's premier shopping destination will be further strengthened," said Mr. Henry Lam, Executive Director of Investment Properties for CB Richard Ellis Hong Kong.
Recently, there is a market rumour that the whole block of 53 Carnarvon Road was transacted at HK$215 million with an average unit price of about HK$107,500 per sq. ft. In mid of 2007, the G/F shop of 43 Granville Road was sold at around HK$80,600 per sq. ft. saleable area. The subject property is to be sold with vacant possession and is suitable for both investment and self-use. The sale price of the property is expected to be in excess of HK$270 million.
For enquiries relating to the sales matters for this project, please contact Mr. Henry Lam, Executive Director of Investment Properties for CB Richard Ellis Hong Kong, at (852) 2820 2835.
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