Prominent international real estate firm Savills is delighted to announce the successful completion of a transaction involving three consecutive floors of 888 Lai Chi Kok Road ("the Property"), which are in the high zone of a brand-new prime super Grade A office building in Cheung Sha Wan. The transaction, priced at approximately HK$1.2 billion, is one of only a few major office deals completed in Hong Kong in 2021 thus far.
Mr. Peter Yuen, Managing Director, Head of Investment & Sales of Savills, who led the deal, commented: "Being a key export hub of Hong Kong and with good connections to the Kwai Tsing Container Terminals, Hong Kong International Airport, Hong Kong–Zhuhai–Macau Bridge and the western part of the New Territories, western Kowloon will play a key role in the initiatives launched to strengthen the trade and business links between Hong Kong and mainland China. These steps include most recently the Central Government's plan to expand the Qianhai Special Economic Zone by up to eight times its current size. Cheung Sha Wan enjoys good potential as a new key business district in western Kowloon as well as in Hong Kong."
Mr. Jay Fan, Deputy Senior Director of Investment of Savills, said, "Eyeing the many qualities of the Property, the purchaser has bought it for its own use, noting that it is part of an exquisite office building of the New World Development brand that stands out among only a handful of prime buildings in Cheung Sha Wan."
The Property is situated at 888 Lai Chi Kok Road, a new prime Grade A office building expected to be completed in Q2 2022. It is conveniently located within walking distance from the MTR Lai Chi Kok station, with views of the Rambler Channel and Ma Wan Channel from its upper floors. The Property in the current transaction comprises three connected storeys with a total gross floor area of approximately 68,000 square feet.
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