International real estate firm Savills has been appointed as the sole agent by the owner for the sale of the majority shares No. 77 – 79 Wong Nai Chung Road, Hong Kong (the “Property”), with an indicative price of approximately HKD 208 million.
The Property comprises the 2nd and 3rd Floors of No. 77 together with the entire block at No. 79, encompassing a total of 11 residential units and one ground-floor shop. The Property is being offered for sale on an as-is basis with existing residential tenancies.
The Property comprises Nos. 77 and 79 Wong Nai Chung Road, which form a single building with a shared lift and staircase, on a site area of approximately 4,004 sq ft. The ground-floor shop has a gross area of approximately 1,223 sq ft, while the 11 residential units each offer a saleable area of approximately 1,124 sq ft, totalling approximately 13,596 sq ft and representing around 60% of the building's ownership interest. Based on the indicative price, the unit price is approximately HKD15,300 per sq ft, in line with recent transactions of comparable units in the area. All residential units enjoy open views overlooking Happy Valley Racecourse, a rare offering in the market.
Located within the prestigious Wan Chai School Net 12, the Property is close to a number of renowned primary schools, including Marymount Primary School, St. Francis' Canossian School, St. Paul's Primary Catholic School and St. Joseph's Primary School. The area is highly sought after by families, supporting stable leasing demand. All residential units are currently tenanted. Situated in the established residential enclave of Happy Valley, the Property enjoys a tranquil yet convenient location. A tram stop is located directly outside the building, providing easy access to key districts across Hong Kong Island. Residents also benefit from proximity to several private clubs and recreational facilities, including Hong Kong Football Club, Craigengower Cricket Club and South China Athletic Association, further enhancing the area's appeal.
Mr. Russell Tang, Senior Manager of Kowloon Commercial Sales at Savills Hong Kong said, “At approximately HKD15,300 per sq ft, the purchaser is effectively acquiring a 60% ownership interest at prevailing strata-title market values, without paying a premium for whole-building ownership. All 11 residential units are currently fully leased, providing immediate rental income. The Property also offers future potential for the acquisition of the remaining ownership interests and ownership consolidation, making it an attractive opportunity for both long-term investors and local assemblers.”