International real estate firm Savills is delighted to announce the successful completion of the transaction of No.7 Old Bailey Street, Central (the "Property"). The Property was sold on an “as is” basis with existing tenancies at a transaction price of approximately HKD 56 million. The Property is a six-storey commercial and residential building with a site area of approximately 1,318 square feet and a total gross floor area of about 5,561 square feet.
This Property’s standout feature is its permanent, unobstructed view of Tai Kwun—an expansive cultural landmark vista rarely found in the district. The building offers 10 residential units across 1/F to 5/F, while the ground-floor retail space is leased long-term to a Michelin-starred restaurant.
Nestled in Central’s golden location and connected to the Central-Mid-Levels Escalator system, the Property is just a 5 to10 minute walk from the MTR station and the core business district. This prime location guarantees exceptional visibility and foot traffic, further enhancing the asset's premium positioning.
Mr. Thomas Ng, Manager, Investment of Savills said, “Amid the current trend of interest rate cuts, the appeal of Hong Kong dollar time deposits has declined significantly, prompting investors to redirect their focus on the property market. Following market adjustments over the past two to three years, investors are increasingly drawn to prime and rare properties in core district. Such properties have historically been tightly held by owners with limited supply availability, offering stronger defensive characteristics and long-term value resilience. Transaction activities in the coming months are expected to remain dominated by prime and rare premises in core district.”