International real estate consultancy Savills has been appointed sole agent for the tender sale of 9 Walnut Street in Tai Kok Tsui. The tender closing date is scheduled on 28 November 2014 (Friday) at 12 noon. The indicative price of the property is HK$190 million.
International real estate consultancy Savills has been appointed sole agent for the tender sale of 9 Walnut Street in Tai Kok Tsui. The tender closing date is scheduled on 28 November 2014 (Friday) at 12 noon. The indicative price of the property is HK$190 million.
Currently erected on the site is a six-storey industrial building with a site area of 4,430 sq ft and a gross floor area of 30,000 sq ft.
Ricky Lau, Deputy Senior Director of Industrial Development and Investment, Savills observed, “the plot ratio of the property has not been fully utilised and the total redevelopment area could reach 53,160 sq ft. Within a short walk of approximately 10-minutes from Price Edward or Mongkok Station, the property is located where redevelopment is turning a new page for the area. New residential, commercial and hotel projects are available in the neighbourhood including Shining Heights, Lime Stardom, Park Summit, Park Ivy, SOLO, Rosedale Kowloon and Dorsett Mongkok. The property definitely possesses huge investment potential.”
Ricky added that 9 Walnut Street has fulfilled the terms and conditions of the revitalization policy set out by the Government and can be redeveloped without extra cost. It is recommended to turn the property into a Ginza shopping plaza or any retail related use.