International real estate firm Savills has been appointed as the sole agent for the sale of No. 318 Hennessy Road, Wan Chai ("The Property"). The Property has a total gross area of approximately 128,656 square feet and a site area of approximately 7,651 square feet. It is being sold with naming right. The Expression of Interest closing date is scheduled for noon on 18 March, 2025 (Tuesday).
The Property consists of 8 floors of retail space and 16 floors of office space, with each portion equipped with its own elevators to effectively manage foot traffic. The Property is of high quality, with each floor having a gross area ranging from approximately 2,998 to 7,338 square feet, and a floor-to-floor height of 3.35 to 4.72 meters. Additionally, the façade of the property features a full glass curtain wall facing the intersection of Hennessy Road and Tonnochy Road, which attracts foot traffic and has high advertising value.
The Property is located on Hennessy Road in the core area of Wan Chai, one of the busiest thoroughfares on Hong Kong Island, with a continuous flow of foot traffic. It is also close to the commercial core of Central and Admiralty, as well as the Wan Chai North waterfront commercial area, creating a vibrant business atmosphere. It is just a 5 to 10-minute walk from Wan Chai, Causeway Bay, and Exhibition Centre MTR stations, and there are multiple bus routes along Hennessy Road, making transportation very convenient.
Mr. Raymond Wan, Chief Senior Director of Investment at Savills Hong Kongsaid, “The Property has a latest valuation of HKD 2.2 billion, with an expected monthly rental income of approximately HKD 5 million. The retail floor currently leased to several renowned restaurants, providing stable rental income and immediate returns for buyers. Additionally, the commercial building on Hennessy Road, including naming rights, is extremely rare and is highly suitable as a headquarters for large corporations or for long-term rental investment.”