Savills has been appointed the sole agent for the sale of the G/F and loft at 53 Granville Road, Tsim Sha Tsui. The estimated value for this property is HK$125 million.
Savills has been appointed the sole agent for the sale of the G/F and loft at 53 Granville Road, Tsim Sha Tsui. The estimated value for this property is HK$125 million.
Granville Road, located in Tsim Sha Tsui, is a great destination for young shoppers. There are fashion boutiques, cosmetic stores and “fast turnover” fashion retailers. The footflow is similar to the likes of Canton Road.
Past transaction records indicate that the supply of retail stores on Granville Road is limited, as they are in such high demand. The last transactions recorded were the sale of the G/F and loft at 55 Granville Road in November 2012 (HK$117 million) and the G/F of 42 Granville Road in May 2012 (HK$268 million).
The property covers a site area of approximately 1,800 sq ft. The G/F is approximately 1,000 sq ft and the loft is approximately 700 sq ft, with a door width of around 17 ft 11 in.
Sharon Fong, Deputy Head of Investment, Savills said, “The property is located in the shopping area of Tsim Sha Tsui district, which is a hot spot for consumers and tourists looking to buy clothes and accessories. In Q1/2014, Granville Road introduced a range of shoe retailers and cosmetic brands, widening its appeal to consumers.”