International real estate firm Savills is appointed as the sole agent for the tender sale of the retail podium of Uptify at 31 Yin Chong Street, Mong Kok ("The Property"). The total gross floor area is approximately 6,664 square feet. The Property was newly completed in 2023 and is being sold as “as is” basis with partly vacant possession and partly with existing tenancies. The tender closing date is scheduled at noon on 30 July, 2024 (Tuesday) (Unless sold previously or withdrawn).
The Property spans two levels, comprising three ground floor shops and a full-floor shop on the first floor with an independent ground floor entrance. The shop sizes range from approximately 668 to 3,770 square feet. All the shops feature an exceptionally high 5-meter floor-to-floor height, and are equipped with their own washrooms, water supplies, sufficient power, and grease traps. One of the ground floor shops is currently leased to a popular dessert shop invested in by renowned artist Moses Chan.
The property is located in the heart of Mong Kok, a 7-minute walk from the Mong Kok and Yau Ma Tei MTR stations. The property features three large signboards facing Yin Chong Street and Fa Yuen Street, which is expected to provide excellent advertising exposure.
Mr. Raymond Wan, Chief Senior Director, Investment of Savills, stated, “Mong Kok and Yau Ma Tei have not seen the supply of any new commercial podium developments in many years. Combined with the property's exceptionally high-specification design, which are extremely rare in the area, it is expected to attract significant interest from investors and owners of specialty shop.”