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Colliers appointed as sole agent by KAZA to sell a portfolio of boutique residential buildings

HONG KONG SAR, 5 July 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 owner for the sale of a portfolio of three boutique residential buildings on Hong Kong Island by expression of interest.

The portfolio includes properties in Sai Ying Pun, Wan Chai and Stanley, with two nestled in oases hidden from the hustle and bustle of the City and one designed for a relaxing coastal lifestyle by the seaside in the Southern District. The en-bloc acquisition is inclusive of land, absolute ownership and boutique-style low-rise residential blocks. Comprising 21residential units, three retail units and four office units across the three buildings, the portfolio has an approved total gross floor area of approximately 16,292 square feet and a saleable floor area of about 14,348 square feet. The area measurements are subject to vertification. 

KAZA - Sai Ying PunKAZA Sai Ying Pun - Situated at 225 Des Voeux Road West, the Property is less than a 2-minute walk and within 100 metres from Sai Ying Pun MTR Station on the Island line. Thanks to colourful street art, trendy F&B offerings and newly completed high-end residential developments, including One Art Lane and Artisan House, the area has become a haven for those seeking unique dining and retail experiences with a stylish ambience. The site area is about 1,680 square feet with an approved gross floor area of approximately 9,054 square feet and a saleable floor area of around 8,012 square feet, subject to verification, providing two retail units, four office units and six residential flats. The communal areas, interiors and flat roofs are ingeniously designed with a contemporary and luxurious yet understated feel. 

More information can be accessed here: https://www.colliers.com/en-hk/properties/sole-agent-boutique-residential-bloc-for-sale-in-western-district/hkg-nos-255-257-des-vouex-road-west-western-district-hong-kong/hkg14000626

KAZA - Wan ChaiKAZA Wan Chai - The Property is situated on the northern side of Sik On Street, a quiet oasis just off busy Queen’s Road East. 

The vibrant Star Street and St Francis Yard precinct is within a few minutes’ walk, offering a broad array of independent eateries and boutique retail – a hotspot for young professionals. The area will further benefit from the development of Hopewell Centre II, a new hotel-retail-office flagship project with an area of over one million square feet, due for completion in 2024. KAZA Wan Chai is within a 6-minute walk from the Wan Chai MTR Station on the Island Line which is only 350 metres away.

Comprising 10 residential units, the site area is about 1,147 square feet with an approved gross floor area of roughly 4,601 square feet and a saleable floor area of approximately 4,296 square feet, subject to verification,. The Bauhaus-style architecture features communal areas, interiors and flat roofs  finished with meticulous attention to detail, with windows on multiple sides allowing abundant natural light.

More information can be accessed here: https://www.colliers.com/en-hk/properties/sole-agent-boutique-residential-bloc-for-sale-in-wan-chai/hkg-nos-1-3-sik-on-street-wan-chai-hong-kong/hkg14000628

KAZA - StanleyKAZA Stanley – The property is located at 120 Stanley Main Street, in the heart of a charming seaside town with a unique European feel. This boutique apartment block is just steps away from beaches, water sports, and breath-taking hiking trails. Amenities in the immediate vicinity include a library, sports centre and wet market, and the Property is less than 10 minutes from the newly refurbished Stanley Plaza and Murray House offering a wide range of restaurants, bars and retail. Tenants can lead a relaxed outdoor lifestyle while enjoying easy connectivity to the rest of Hong Kong Island via a high-frequency bus service within a 2-minute walk from the Property. 

The site area is about 625 square feet with an approved gross floor area of approximately 2,637 square feet and a saleable floor area of some 2,040 square feet, subject to verification, providing five residential flats and one retail unit. The building is comfortably decorated in a ultra-modern style and has plenty of natural light. 

More information can be accessed here: https://www.colliers.com/en-hk/properties/sole-agent-boutique-residential-bloc-for-sale-in-stanley/hkg-no-120-stanley-main-street-stanley/hkg14000629

Dominic Chung, Executive Director, Capital Markets & Investment Services | Asia, commented: “Three low-rise residential buildings offering comfy and lifestyle living for tenants on Hong Kong Island are for sale in the market.  All situated at prime locations, the properties boast unique architectural and interior design elements and a high-quality tenant base, allowing owners to generate stable rental income and to explore the potential of converting them into co-living space, long-stay flats for rental or even student or staff dormitories. The portfolio is very likely to draw a great deal of attention from investors and developers to bid for it.”

“Overall investor sentiment has lifted as the pandemic subsides around the world, and we are seeing many transactions across different asset types. The price correction in the property market has presented good opportunities for investors to buy at low prices. Once the global economy recovers, these properties will enjoy great appreciation potential,” he added.

If you would like to know more about this investment opportunity, you can contact our experts Mr. Dominic Chung E-144738 (9077 3770), Mr. Saki Tang E-031960 (9468 0676), Mr. Stephen To E-367484 (6543 0452) or Mr. Cedric Lee S-570893 (5223 7704).


Media Contact:

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

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

 

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Dominic Chung

Executive Director | Asia

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Dominic has more than 30 years of real estate experience, with more than 26 years focusing on investment transactions, 20 years exposure to mainland China market. 

Prior to joining Colliers International, Dominic was the Co-head of Investment Properties for China and the Head of Investment Properties for Hong Kong at CBRE, respectively during the period from 2010 to 2014. He revamped the company’s investment agency business in Hong Kong and China. He built the Hong Kong investment department from a small team into a sizeable investment agency, with a strong market presence and record earnings in subsequent years.

Prior to CBRE, Dominic was with Jones Lang LaSalle from 2005 to 2009 as the Managing Director of Shenzhen, China and Head of Investment Sale, South China.  Dominic also ran his own investment agency in the late 1990s in Hong Kong and in Shanghai from 2002 to 2003. Besides Hong Kong and mainland China, Dominic has substantial cross-border transaction experience in investment markets in Asia and North America.

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Saki Tang

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Saki’s focus is spread across multiple asset classes including high street retail and enbloc shopping malls, development sites, and hotels. He has an enviable track record which includes an iconic deal for a major land assembly project in Tin Hau and the acquisition of multiple high street shops for a major commercial development in Tsim Sha Tsui.

 

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