Savills Hong Kong announces today that it has been appointed as the sole agent to dispose the 1st through 18th floors and the rooftop of Soho Tower at 25 Hart Avenue, Tsim Sha Tsui, through private treaty, with an intended price of HKD90 million.

The above property has a total gross floor area of 15,000 sq.ft.  It is close to New World’s redevelopment site in Hanoi Road. Many bars and restaurants can be found on Hart Avenue.

Tim Wong, Director of Savills Investment, said, as the hotel and retail project in Hanoi Road is scheduled to commence operations in the third quarter next year, it is expected that it will create an effect similar to when Times Square opened in Causeway Bay 15 years ago, bringing in higher customer flows and more commercial and retail activities in the area, which in turn supported property values in the vicinity.