International real estate firm Savills, following the successful sale of the large retail shop at G/F, 1/F and 2/F, Amber Commercial Building in Causeway Bay, has once again been appointed as the sole agent by the owner for the sale of three prime shops, including the Commercial Premises on the G/F and the air-conditioning plan room on 2/F, Tanner Garden, No. 18 Tanner Road, North Point, G/F & C/F, Shing Wah Mansion, Nos.455 – 457 Hennessy Road, Causeway Bay and Shop 1 on G/F, Yue King Building, Nos.41 – 47 Morrison Hill Road, Wan Chai. The Property has a total gross area of approximately 21,702 square feet and will be sold with vacant possession. G/F, 1/F and 2/F, Amber Commercial Building.
Commercial Premises on the G/F and the air-conditioning plan room on 2/F, Tanner Garden, No. 18 Tanner Road, North Point
The property has a gross area of approximately 12,617 square feet, with a frontage of about 94 feet and a floor-to-floor height of 5.7 metres. All seven ground-floor shops are fully leased and will be sold with the existing tenancies, providing the buyer with a stable monthly rental income of approximately over HK$300,000. The property is situated in a prime location, adjacent to large shopping centres such as Island Place and Fitfort, with strong demand for daily consumer goods in the surrounding area. The current unit price is highly attractive.
Nos.455 – 457 Hennessy Road, Causeway Bay and Shop 1 on G/F
The property consists of two adjoining shops with a mezzanine floor, featuring a total gross area of approximately 4,200 square feet and a frontage of about 28 feet. It faces the tramway directly, benefiting from high foot traffic and excellent visibility. Currently sold with a secure bank tenancy agreement in place, it generates a monthly rental income of HK$240,000, offering investors immediate and stable returns.
Shop 1 on G/F, Yue King Building, Nos.41 – 47 Morrison Hill Road, Wan Chai
The property has a gross area of approximately 1,000 square feet with a frontage of about 16 feet. It is situated in a prime location adjacent to Happy Valley Racecourse, Bowrington Road Market, the Youth Hub, and the South Pacific Hotel, benefiting from heavy pedestrian and vehicular traffic. Additionally, it is close to the Cross-Harbour Tunnel entrance, ensuring excellent connectivity and transportation convenience. The property is being sold with vacant possession, making it highly suitable for businesses such as lighting, restaurants, and other retail ventures.
Ms. Sharon Fong, Senior Director of Investment at Savills Hong Kong said, “The three core district retail properties currently listed for sale have a combined indicative price of approximately HK$190 million. Among them, the properties located on Tanner Road in North Point and Hennessy Road in Causeway Bay are being sold with existing tenancies, providing investors with immediate stable cash flow.
The current unit price has seen a significant correction from the market peak, offering strong appreciation potential. Moreover, with the recent HIBOR falling below 1%, a rebound in global stock markets, slight progress in the U.S.-China trade tensions, and major IPO fundraising activities, the capital markets have received a boost in confidence. We believe investors will regain confidence and seize this prime investment opportunity.”