International real estate firm Savills is appointed by order of the owner as the sole sales agent for the tender sale of Unit 03, 14/F, No. 9 Queen’s Road, Central (“The Property”) with a gross area of approx. 3,335 sq.ft. The Property is sold on an "as is" basis, subject to the benefit of existing tenancies by Public Tender. The indicative price of The Property is HK$130 million, and the tender will close at 12 noon, 11 October 2022 (Tuesday).
No. 9 Queen’s Road is a prime office building and located in the central business district and nearby The Landmark. It enjoys the premier location with only a few minutes’ walk to the Central MTR station. The Property faces the former Central Government Offices and embraces the cityscape.
Mr Raymond Wan, Chief Senior Director, Investment & Sales, Savills Hong Kong, commented, “The supply of Grade A prime office in Central has been scarce, and the latest Grade A office building transactions in Central have been sold for over HK$100 million, including the top floor at Silver Fortune Plaza, the whole floor of mid-level unit at South China Building and a duplex unit at 18 On Lan Street were sold at about HK$110 million (at HK$25,017 per sq.ft.), HK$120 million (at HK$29,176 per sq.ft.) and HK$170 million (at HK$34,722 per sq.ft.) respectively. It is rare for owners to put Unit 03, 14/F, No. 9 Queen’s Road on sale and it is suitable for self-use by medium-sized enterprises or investors for leasing purposes which can bring stable returns to investors.”
Mr. Louis Lai, Deputy Senior Director, Investment & Sales, Savills Hong Kong, commented, “The Property was sold for HK$95 million in June, this transaction is a financial arrangement between the original owner and the financial institution, it does not truly reflect the true value of The Property. Therefore, the financial institution entrusted Savills Hong Kong as the sole sales agent for this tender sale. The indicative price is now HK$130 million (at HK$38,980 per sq.ft.) and is sold with existing tenancies. In addition, there is another unit in the building for sale, the selling price is HK$45,000 per sq.ft.”
Remarks: In case of any discrepancy between the two versions, the Chinese version shall prevail.