International real estate consultancy Savills has been appointed sole agent for the tender sale of 15 – 17 Wing Hing Street at Tin Hau. The tender closing date is 4 February 2015 (Wednesday) and its indicative price is HK$340 million.
International real estate consultancy Savills has been appointed sole agent for the tender sale of 15 – 17 Wing Hing Street at Tin Hau. The tender closing date is 4 February 2015 (Wednesday) and its indicative price is HK$340 million.
Situated in one of the best locations on Hong Kong Island, walking from the property to Tin Hau MTR Station takes only a couple of minutes. With the presence of shopping malls and restaurants in Causeway Bay and Tai Hang, which fall within the neighbourhood of the property, the property is ideal for redevelopment as a hotel*. A number of large-scale hotel development projects are currently under way, such as the project on Oil Street, North Point by Cheung Kong and the Ex-North Point Estate project by Sun Hung Kai, showing strong investment sentiment towards this area.
Patrick Chau, Deputy Senior Director of Residential Development and Investment, Savills said, “the property is located in an ideal location with a convenient transport network. It is believed the on-going redevelopment projects in the neighbourhood will entice more footfall in the near future.”
*The property has been approved for redevelopment as a 84-room hotel and the GFA could increase to 34,461 sq ft.