9 June 2014

 

International property consultant, Colliers International has successfully auctioned off the 4-storey commercial building at 96 Wellington Street (the Property), Central at an auction session that took place this afternoon. The total value of the sale is HK$105 million.

Richard Kirke, Managing Director for Colliers International Hong Kong and auctioneer on the day says, “While property auctions are not common in Hong Kong, the result of today’s auction is evidence that investors and vendors alike are open to this method of transacting a property. There was a lot of energy in the room, turnout was very encouraging and the entire process was transparent and seamless.”

Located at core Central, the Property covers a site area of approximately 1,035.6 sq ft with a total area of 4,215 sq ft attracted 11 bids.

Responding to a question if Hong Kong will see more property auctions in the near future, Richard commented that possibilities are high now that Colliers has successfully achieved a good sale result by way of this platform.

“Undoubtedly, word will travel out there that investors were receptive to this method of sale. Auctions are very popular in many overseas locations and a great way to sell and purchase properties in a transparent and efficient manner.”