International real estate firm Savills has been appointed by the mortgagee as the sole agent for the sale of a portfolio of properties at Hua Qin International Building, 340 Queen’s Road Central, Sheung Wan ("The Property"). The portfolio comprises units located on the 10th, 11th, 13th and 15th floors, with gross areas ranging from 605 square feet to a whole floor of 3,798 square feet. The properties are being offered for sale on an as-is basis with vacant possession.
The Property is strategically located on Queen’s Road Central, a major thoroughfare in Sheung Wan, in close proximity to Sheung Wan Civic Centre and Western Market. Situated directly opposite a pedestrian crossing and adjacent to a bus stop, the building enjoys excellent accessibility, with Sheung Wan MTR Station just a 5-minute walk away.
The building features a classic glass curtain wall façade, while its ground-floor podium comprises a retail arcade. The lobby entrance is spacious, grand, and impressive, setting it apart from the typical entrance design found in Grade B office buildings.
Mr. Allan Chan, Director of Investment at Savills Hong Kong said, “The Property is currently being offered at an indicative price of approximately HKD 5,200 per square feet, with room for negotiation. By way of reference, the recent sale of the development site at 94, 96 and 98 Bonham Strand was transacted at approximately HKD 195 million, translating into an accommodation value of around HKD 5,600 per square feet. The current asking price for the units at Hua Qin International Building is therefore below the prevailing land value in the district.
The properties are available for purchase either as a portfolio or on an individual basis, providing purchasers with greater acquisition flexibility. This offering presents a rare opportunity for investors and owner-occupiers alike to acquire quality commercial premises in a prime Sheung Wan location.”