Savills has been appointed as the sole agent for the tender sale of properties on Lok Kwan Street in Tai Kok Tsui. The tender closing date is 22 July 2015 (Weds) at 12 noon.
Savills has been appointed as the sole agent for the tender sale of properties on Lok Kwan Street in Tai Kok Tsui. The tender closing date is 22 July 2015 (Weds) at 12 noon.
The site for sale is the whole building at 16-18 Lok Kwan Street, the 1/F of 20 Lok Kwan Street and the G/F of 22 and 24 Lok Kwan Street. The total residential area is approximately 7,161 sq ft and the total shop area is approximately 2,570 sq ft. The site is to be sold on an “as-is” basis with vacant possession.
The above-mentioned site is close to Metro Harbour View. Olympic City and Olympic station are within easy walking distance which gives the site a link to an excellent transport network. The site faces Lok Kwan Street park with perfect views of the greenery.
Peter Yuen, Deputy Managing Director and Head of Investment, Savills said, “The West Kowloon Cultural District and the Guangzhou-Shenzhen-Hong Kong Express Rail Link will be completed soon. The express link will increase the demand for residential and commercial buildings in Tai Kok Tsui. Previously, the Urban Renewal Authority provided land for sale for hotel use in Tai Kok Tsui, which attracted a lot of developers including Wheelock Properties, Sun Hung Kai Properties and New World Development. This shows that developers have confidence in the area. It is expected that Tai Kok Tsui will become another core area in West Kowloon. In addition to this, the site has high renovation and redevelopment value - it can be redeveloped into a commercial/residential building by acquiring old buildings nearby. The site for sale provides enormous development potential and I believe this tender will entice interest from both investors and developers.”