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Colliers appointed as sole agent to sell two consecutive industrial floors in Chai Wan

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.


Media Contact:

Alex Kaihau
Head of Marketing & Communications
alex.kaihau@colliers.com 
+852 5971 3234

Nora Wong
Senior Manager, Marketing & Communications
nora.wong@colliers.com 
+852 6105 1336

 

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Russell Lam

Executive Director

Capital Markets & Investment Services

Hong Kong

Russell possess 10 years experiences in real estate, most of which in investment agency focusing in Hong Kong deals. He transacted numerous class of asset classes including Hotel, Warehouse Building, Residential Sites, Retail Podiums, En Bloc and Strata Titled Offices. 

On the professional front, Russell is well-versed with finance and economics. He has so far passed professional exams in finance in first attempt. Russell is a Chartered Financial Analyst and a Financial Risk Manager. He is also a full member of Hong Kong Institute of Surveyors and a Registered Professional Surveyor in General Practise Division as well as a Licensed Agent (Individual) in Hong Kong

Outside of work, Russell is also a very keen golfer.

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Jacky Cheung

Senior Director

Capital Markets & Investment Services

Hong Kong

Jacky Cheung is a Chartered General Practice Surveyor with over 23 years’ experience in real estate market.   He has worked on investment properites, valuation, land administration and property development consultancy projects in both the public and private sectors.   

 

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Michael Zhang

Associate Director

Capital Markets & Investment Services

Hong Kong

Michael possesses over 15 years experiences in real estate, most of which in property investment and development focusing on Hong Kong deals. He started his career in State-Owned Enterprises (SOE) for acquisition and development in Hong Kong and overseas and moved to investment agency from buy side in 2022. 

Michael also usually assist Hong Kong developers and investors in seeking gobble-wised real estate investments as well as disposal of projects overseas.  

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