Savills Hong Kong announces that it has transacted two floors of restaurant, a G/F and 1/F of Nos. 1-7 Nam On Street, Shaukeiwan, Hong Kong at approximately HK$33 million.
Savills Hong Kong announces that it has transacted two floors of restaurant, a G/F and 1/F of Nos. 1-7 Nam On Street, Shaukeiwan, Hong Kong at approximately HK$33 million.
Backy Fung, Director of Investment, said the transacted property includes the entire G/F & 1/F. The total gross floor area transacted is around 7,700 sq.ft. with an average price of HK$4,286 per sq.ft. The seller purchased the property at year 04 at the price of HK$12.5 million, that have 164% increased value and gains HK$20.5 million in 6 years times. The buyer is a local investor who bought the property for medium to long term investment.
Shaukeiwan is the residential area of Hong Kong Island and schools and commercial buildings are near to the transacted property. Along with the limited supply of shops or restaurant in a medium size, it has potential for investment in the district.