Kiu Mansion, 313 Nathan Road, Jordan. The site has an indicative price of HK$250M.
International real estate consultancy Savills has been appointed as the sole agent for the tender sale of the 1/F, G/F and B/F of Hong Kiu Mansion, 313 Nathan Road, Jordan. The site has an indicative price of HK$250M.
The 1/F, G/F and B/F have a gross floor area of 2,000 sq ft, 2,200 sq ft and 2,300 sq ft respectively, with a saleable area of 1,450 sq ft, 1,600 sq ft and 1,760 sq ft respectively. Currently the 1/F is classified as office usage, the G/F as shop usage and the B/F as store usage, however there is potential to change these all to shop usage, as was done for the sites at 311 Nathan Road just recently.
The site is conveniently located on Nathan Road amongst many popular retail shops, with only 1-minute walk to Jordan MTR Exit A and Yue Wah Chinese Products Emporium, providing high pedestrian flow to the area. This will continue to increase once the Express Rail Link is completed.
Retail shop transactions have been scarce in the area. The most recent one landed on the Excelsior Building deal located on 358-366 Nathan Road in September 2015. The transaction included shops A,B,C,D and E and the loft which belonged to fashion brand Kaiser and was priced at HK$160 million, with vacant possession. Another earlier transaction was the sale of the G/F and 1/F of Chi 314, 314 Nathan Road in January 2013, which was transacted at around HK$242.5 million. It is well-known that this particular section of Nathan Road is classified with “Yin” and “Yang” callings. Singular street number of this section of Nathan Road is called “Yang Street” and plural street number is called “Yin Street”. “Yang Street“ is more sought-after by high-end retailers like jewellery & watch due to its better footfall.
Sharon Fong, Senior Director of Investment, Savills said, "The sale of 1/F, G/F and B/F of Hong Kiu Mansion is exciting news for investors looking to buy in the Jordan area. The subject shop is impressively huge and has never been placed on the market for the last 50 years. It is thus hailed as “collectable” item.”