International real estate firm Savills has been appointed as the sole agent for the sale of Virtus Medical Tower, No. 122 – 126 Queen’s Road Central, Central ("The Property"). The Property has a site area of approximately 3,003 square feet and a gross area of approximately 46,007 square feet. It is being sold on an "as-is" basis with existing tenancies.
The Property is situated in the prime business district of Central, adjacent to key landmarks such as the headquarters of Hang Seng Bank, 100 Queen's Road Central, and The Center, creating a vibrant business atmosphere. It is just a few minutes' walk to Central and Hong Kong MTR stations, ensuring convenient transportation and a bustling flow of foot traffic.
The Property has its retail portion from B/F to 3/F, with a gross area of approximately 2,960 to 3,396 square feet each. While 5/F to 19/F are designated for office use, with each floor offering a gross area of approximately 2,140 to 2,543 square feet. The entire building features a glass curtain wall design, with high ceilings and loading capacity, providing excellent spatial specifications for various types of tenants.
Mr. Raymond Lee, Chief Executive Officer at Savills Greater Chinasaid, “The valutaion for the Property is HKD 1.1 billion, with a current total monthly rental income of approximately HKD 3.68 million. This property is leased to two tenants, including a bank and a medical institution, providing very stable rental income. Notably, the Property underwent a major renovation in 2018, costing nearly HKD 100 million, resulting in modern decor and updated facilities. This undoubtedly represents an extremely attractive golden opportunity for investors or end-users.”
Mr. Raymond Wan, Chief Senior Director of Investment at Savills Hong Kongsaid, “Most whole block commercial buildings in core Central district are long-term holding by established local old rich family or listed companies, and rarely for sale. This Property presents an excellent opportunity for businesses to establish a presence in Central, enhancing their reputation and visibility. It is expected to attract overwhelming interest from local families, mainland enterprises, and multinational companies.”