Savills Hong Kong announces that it has transacted more than three floors of Ford Glory Plaza, 37-39 Wing Hong Street, Cheung Sha Wan, at approximately HK$80 million.
Savills Hong Kong announces that it has transacted more than three floors of Ford Glory Plaza, 37-39 Wing Hong Street, Cheung Sha Wan, at approximately HK$80 million.
James Siu, Senior Director of Industrial Development and Investment, said the transacted property includes the entire floors of 10/F, 11/F, and 15/F, plus a portion of the 16/F. The total gross floor area transacted is around 33,000 sq.ft. and an average price per sq.ft. of HK$2,425.
The buyer is a local investor who bought the property for medium to long term investment. James Siu expected that the rent per sq.ft. could reach HK$12, delivering a rental yield of over 6 per cent.
Ford Glory Plaza is a newly completed high quality curtain-walled industrial building in Cheung Sha Wan. It is developed by Billion Development and Project Management Limited. Ford Glory Plaza has 29 floors, with high ceiling heights of around 4.2 metres (approximately 13.8 ft.). The gross floor area for an entire floor is 10,377 sq.ft. There are only three upper floors left for first hand sales, with asking prices range between HK$2,600 and HK$2,900.