Savills Hong Kong announces that it has transacted Informtech Industrial Centre, a prime whole block industrial building in Siu Lek Yuen, Shatin, at HK$121 million.
Savills Hong Kong announces that it has transacted Informtech Industrial Centre, a prime whole block industrial building in Siu Lek Yuen, Shatin, at HK$121 million.
Completed in 1989, the transacted property has a site area of approximately 19,117 sq.ft. It is a seven storey building with a total gross floor area of around 95,582 sq.ft. and an average price per sq.ft. of HK$1,266.
The property was sold through private tender and it was closed in the middle of this month. James Siu, Senior Director of Industrial Development and Investment, said the property is very prime and rare as no single ownership property in Siu Lek Yuen has been sold over the past ten years, while this was a whole block property for sale on vacant possession basis. It is conveniently located and is suitable for long term investment or self use.
The tender attracted over five bidders, including Savills who is representing an investor. Finally Savills beat all others and won the deal. The buyer will renovate the property and use it as a long term investment.
Informtech Industrial Centre is located in Siu Lek Yuen, an area where many industrial buildings converged around the Kowloon Motor Bus depot. Many of the buildings are owned by local traditional industrialist families such as Koon Wah Mirror Group, Goldlion Holdings, and Chiaphua Industries. The area is highly accessible with the City One MTR Station of the Ma On Shan line in close proximity. The line is part of the Shatin-to-Central Link that is slated to be completed in ten years. Major residential estates like City One and Yuen Chui Court are nearby.
Informtech Industrial Centre has a ground floor area of approximately 7,968 sq.ft. The size of each entire floor of 1/F and 2/F is around 16,307 sq.ft., and 13,750 sq.ft. for the 3/F to 6/F.