Savills has been appointed as the sole agent for the tender sale of the whole block of 26 Wing Lok Street in Sheng Wan. The indicative price is HK$250 million. Tender closing date: 17 July 2017 (Monday) 12pm.
Savills has been appointed as the sole agent for the tender sale of the whole block of 26 Wing Lok Street in Sheng Wan. The indicative price is HK$250 million. Tender closing date: 17 July 2017 (Monday) 12pm.
Currently, a six-storey commercial building with a site area of 801 sq ft,, 26 Wing Lok Street has a potential total floor area of 12,015 sq ft under the maximum plot ratio of 15. The property possesses huge redevelopment potential as two sides of the building are unobstructed, with one side facing Wing Lok Street and the other facing Man Wah Lane. This property can be redeveloped as a new and stylish commercial building.
Wing Lok Street is one of the best-connected areas in Sheung Wan and walking to Sheung Wan MTR Station from this property takes less than a minute.
Peter Yuen, Managing Director and Head of Sales and Investment, Savills said, “recently, more transactions are being seen in Sheung Wan, including the sale of the whole block of Continental Place for HK$1.38 billion (HK$28,398 per sq ft) and 34/F Cosco Tower, which was sold for HK$630 million (HK$30,700 per sq ft). Both of the transactions were completed in April this year. I am therefore confident that 26 Wing Lok Street, with its excellent location and huge redevelopment potential, will be able to catch the attention of investors.”