Savills, a prominent international real estate firm, has been appointed as the sole agent in relation to the sale of Shop B and the Open Yard at the rear thereof on G/F & Cockloft B, Shop C and the Open Yard at the rear thereof on G/F & Cockloft C of Tai On Building, situated at 41-51 Tsuen Nam Road, Tai Wai in the New Territories, together with all existing tenancies ("the Property"). The Property has a floor area of 9,991 square feet. Facing Exit A of MTR Tai Wai Station with high footfall, the prime location of the Property allows for customer access and gives rise to strong business potential. The indicative price of the Property is HK$420 million.
Located on one of the busiest and most populated streets in Tai Wai, the Property comprises three ground floor shops and one restaurant on cockloft with access from the ground floor. The Property is currently leased to two restaurant operators and two local real estate agency firms, generating a total rental income of HK$1.05 million per month. All four tenants are well-known brand names in Hong Kong and the current leases do not end until 2024, hence prospective buyer will be anticipating a stable rental income with great upside.
Given the strong footfall around the MTR station with the frontage of the Property being more than 65 feet wide, the Property is well-positioned for marketing and advertisement.
Tommy Chan, Deputy Senior Director of Investment & Sales of Savills, commented, "The Property is located at the centre of the commercial area of Shatin, and is just a few steps from the new and popular residential project The Pavilia Farm. It is well-positioned to attract high-spending customers from Tai Wai, Shatin as well as Fo Tan. As a result of the favourable development policies in relation to the Northern Metropolis and its prime location in Tai Wai, one of the key regions in New Territories East, the Property is expected to benefit from the residential development and the population growth. Such developments will further drive the prospects and business potential of the Property.”