International real estate consultancy Savills has been appointed as the sole agent for the sale of 4 floors of Shing Dao Industrial Building. The indicative price is HK$ 250 million.
International real estate consultancy Savills has been appointed as the sole agent for the sale of 4 floors of Shing Dao Industrial Building. The indicative price is HK$ 250 million.
Shing Dao Industrial Building is located at 232 Aberdeen Main Road, Aberdeen. The total gross floor area is approximately 55,896 sq ft, with the site area of each floor being 13,974 sq ft.
The property faces Aberdeen Centre and is situated in a premium location, as it is highly accessible with an array of shops and restaurants within a close proximity. With increasing demands for storage space in the area, there is potential to apply to have the property converted so that it can be used for mini-warehouse purposes or as subsidiary offices.
Property development near Wong Chuk Hang area has rapidly developed, with new large-scale commercial buildings appearing in the area, such as L’hotel Island South, One Island South, Southmark, and Global Trade Square etc. This is a reflection of the area becoming increasingly popular with investors.
James Siu, Head of Kowloon Commercial Sales, Savills said, "Hong Kong has a growing demand for commercial space, and recently large enterprises have shown preference to the Southern District. The South Island Line, expected to begin service by the end of the year, will create a connection between Admiralty and the Southern District of Hong Kong. The South side area will become more easily accessible which will favor business activity. "
James Siu continued, saying that the area is currently dominated by long-term investors, who are optimistic about the value appreciation of industrial buildings in the district. As a result, owners are becoming reluctant to sell, which has seen the number of available properties slip. It is believed that having this high-quality property come in to the market will attract a lot of investors.