International real estate consultancy Savills has been appointed as sole agent for the sale of the entire office on the 5th floor, Tower 1, Lippo Centre, Queensway. The indicative price is HK$250 million.
International real estate consultancy Savills has been appointed as sole agent for the sale of the entire office on the 5th floor, Tower 1, Lippo Centre, Queensway. The indicative price is HK$250 million.
Lippo Centre is conveniently located in the heart of Admiralty business district. The 5th floor office space is currently for sale, spanning approximately 10,500 sq ft, and is the only fully vacant floor in the building, a rarity in the area.
Raymond Wan, Senior Director of Investment, Savills said: "Grade A office transactions have been popular in recent months, for example the 24th floor, Tower 1, Lippo Centre, with a gross floor area of 15,000 sq ft was just sold for about HK$372 million (approximately HK$25,000 per sq ft). Worldwide House recently had three of its floors sold at prices ranging from HK$28,000 per sq ft to about HK$35,000 per sq ft. This reflects the strong demand for Grade A office space which exists at the moment and this type of high-quality property is expected to attract a lot of investors."