Savills appointed as sole agent for the tender sale of a retail property in Sai Ying Pun

18 April 2017

Savills has been appointed as the sole agent for the tender sale of shops 8-9 on G/F and cockloft of Kwan Yick Building, Phase III, No.158A, Connaught Road West, Hong Kong.  The indicative price for the property is approximately HK$88 million. 

With exceptional 40 ft. frontage onto Connaught Road West and over 6m ceiling height, the property on sale has a total floor area of approximately 3,548 sq ft.

The premises is currently tenanted by The Winery Kitchen and Bar, a diverse F&B concept by the renowned Castelo Concepts, parent group operator to other famous restaurants in the area such as the popular Jaspas, Ooola and Wagyu.

The property is in the neighbourhood of Sai Ying Pun, which is the up and coming spotlight of Hong Kong.  This area is also home to many foreigners and young professionals.

Commenting on the property, Sam Mock, Senior Director of Investment, Savills, said, “since the launch of the Sai Ying Pun MTR line, commercial activities within this neighbourhood become extremely active.  While most of the transacted shops (shown below) offer less than 2 percent yield, our currently on sale property offers a yield of nearly 3 percent.  Exceptional high yield, solid tenants and strong market momentum will be able to entice potential investors and users.

 
 

Key Contacts

Sam Mock

Sam Mock

E-106477
Senior Director
Investment

Savills Two Exchange Square, 23/F

+852 2842 4295

 

May Yu

May Yu

PR Manager
Marketing & Communications

Savills Two Exchange Square, 23/F

+852 2842 4409