New Town Mansion with car park      for Sale

International real estate firm Savills is appointed as the sole agent for the sale of New Town Mansion with car park, 2 Tuen Lee Street, Tuen Mun ("The Property"). The total gross area of the retail space is approximately 38,512 square feet, with a high utilization rate, including 110 parking spaces, and is being sold "as is" with existing tenancies.

The property is a community shopping mall in the area, with current tenants including a well-known cinema, restaurants, home goods retailers, and a parking management company, making it a popular choice for local residents. The parking lot has also been newly renovated, offering plenty of parking spaces. The mall features a pedestrian bridge directly connecting to Tuen Mun Town Plaza, attracting stable foot traffic, and allows continued access via covered walkways to V City and the Tuen Mun MTR Station.

Additionally, the property is located near the main thoroughfare, Castle Peak Road, with several major bus stops in the vicinity, facilitating travel to and from Hong Kong, Kowloon, the New Territories, and the airport. It takes only 20 minutes by bus from Shenzhen Bay to Tuen Mun Town Center, making it very convenient for domestic travelers.

Mr. Peter Yuen, Managing Director, Investment, Savills Hong Kong said, 

“The asking price for the property is HKD 480 million, with an average price per square foot that is highly attractive. The property generates monthly rental income of approximately HKD 2 million, and the solid lease terms with the cinema not only bring foot traffic to the mall but also provide buyers with stable and continuous rental returns, achieving a return rate of over 5%. This is one of the higher-yielding investment projects in recent years. Furthermore, the HKMA is set to relax mortgage lending regulations for non-residential properties, making this an absolute top investment choice during the interest rate reduction cycle”

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