HONG KONG SAR, 7 June 2022 – Leading diversified professional services and investment management company Colliers (NASDAQ and TSX: CIGI) is pleased to announce it has been appointed as sole agent by the landlord to sell the second and the third floor of Yip Cheung Centre, 10 Fung Yip Street in Chai Wan with three private parking spaces and two lorry parking spaces on basement.
Completed in 1985, Yip Cheung Centre is a 16-storey industrial building located in Fung Yip Street, Chai Wan. The sale includes the second and the third floor of the building with five underground parking spaces, adding up to 18.34% of undivided shares and occupying a total gross floor area of around 34,600 square feet.
Russell Lam, Executive Director of Capital Markets & Investment Services | Hong Kong said: “As Covid-19 cases subside, the overall investor sentiment is lifted with more overseas capital flowing back into the market. Among all asset classes, transactions of industrial and commercial properties have shown the strongest rebound. A number of big-ticket industrial property deals are closed recently, reflecting investors' strong appetite for industrial assets.
Yip Cheung Centre is located in the industrial area of Chai Wan. Presenting a rare investment opportunity, the sale includes the second floor, the third floor and five parking spaces with the two contiguous floors boasting an area of more than 34,000 square feet. There is also room for a 40-foot container loading platform on the ground floor. The price of the subject industrial floors is less than HK$4,000 per square foot. This is a competitive price as compared to other industrial buildings transactions on Hong Kong Island. End-users and multinational corporations looking to invest may find it very appealing.
In addition, the property is adjacent to a major residential redevelopment site of the former China Motor Bus depot, which is planned to house three residential towers offering about 800 units, retail shops, a covered public transport terminus and a public open space. Upon project completion, the property will be benefited from a better environment in the vicinity and a stronger transport network.”
If you would like to know more about this investment opportunity, you can contact our experts Mr. Lam (9382 2202), Mr. Cheung (6233 3066) or Mr. Zhang (9148 1389). Alternatively, you can visit colliers.com for more details.
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