Savills Investment announces that it has been appointed as the sole agent for the sale of a basket of shops including G/F, Nos.383-385A Portland Street in Mongkok, Shop B on G/F, No.6 Bonham Strand in Sheung Wan, and Shop A on G/f, Hang Tat Mansion, Nos.161-165 Lockhart Road in Wanchai, with a total asking price of HK$80 million.
Savills Investment announces that it has been appointed as the sole agent for the sale of a basket of shops including G/F, Nos.383-385A Portland Street in Mongkok, Shop B on G/F, No.6 Bonham Strand in Sheung Wan, and Shop A on G/f, Hang Tat Mansion, Nos.161-165 Lockhart Road in Wanchai, with a total asking price of HK$80 million.
G/F, Nos.383-385A Portland Street in Mongkok is a rare, huge street shop in the district, with an asking price of HK$40 million-plus. The total frontage width is around 53 ft. and the total gross floor area is around 2,800 sq.ft. It is located near the Prince Edward MTR station which guarantees a large pedestrian flow.
This huge shop is divided into 5 smaller shops with gross floor areas range from 385 to 805 sq.ft. All of them are leased with tenants in the fabric trading business. The lease terms will be due from the middle of this year through the third quarter of next year. The total rentals received is around HK$200,000 per month.
Shop B on G/F, No.6 Bonham Strand, Sheung Wan, has an asking price of HK$10 million. It is located at the opposite of Cosco Tower and in the vicinity of Sheung Wan MTR station. The gross floor area is around 680 sq.ft., with a wide frontage of 14 ft. 9 inches. The existing tenant is a printing company, with a lease term lasting till 2011.
Shop A on G/F, Hang Tat Mansion, Nos.161-165 Lockhart Road, Wanchai, has an asking price of around HK$30 million. The gross floor area is about 920 sq. ft., with a frontage of 10 ft. The street is very popular for many home décor, renovation and design shops. The existing tenant is one of these and the lease will last till middle of next year, with a renewal option for the tenant for an additional two years at a 10 per cent increase in rent.