• Savills HK & Colliers Int’l appointed as joint sole agents for the public tender sale of Nob Hill Square

    27 February 2018

    Savills Hong Kong and Colliers International (Hong Kong) Limited are jointly appointed as the sole agent of Nob Hill Square. The subject property for sale consist of a 3-storey shopping mall along with 43 car parking spaces and 10 loading/ unloading bays

    Tender Closing Date: 29 March 2018 (Wed) 12 noon

     

    Nob Hill was jointly developed by Cheung Kong and Far East in 2002 and is located at the former site of Lai Chi Kok Amusement Park, acting as a public thoroughfare between Mei Foo Sun Chuen, one of the largest private residential developments in Hong Kong, and several other housing estates nearby towards Lai King. This property is easily accessible by various modes of public transports and is just several minutes walking distance to Mei Foo MTR station and West Rail Line station. The bus terminal located on the ground floor of the property provides easy transportation between Kowloon and Hong Kong Island.

    Jonathan Chau, Senior Director of Investment, Savills referred to the transaction record on retail malls sold by Link REIT and government land sale in 2017, indicating that the subject property is a very rare and reasonably priced. The current property unit rate comparing to development cost is comparatively lower than other similar types of properties in the market right now. He also suggested that there is a high potential on increasing the return of the property through value adding and raising the rent of the property in the future; which can be achieved by re-configuring the tenant-mix within the property.

    According to the Executive Director of Capital Markets and Investment Services of Colliers International Hong Kong Limited Reeves Yan, ‘’Nob Hill Square is a rare investment opportunity in the market. The shopping mall has over 100,000 sq.ft. of retail space and sufficient car parking space. It is strategically positioned as a one-stop retail destination combined of lifestyle, F&B, entertainment, education and beauty etc. which provides a diversified retail experience for the young as well as the local consumers. The marketing area on the external wall allow the tenants to put on signages to attract more customers.’’

    Please contact:

    • Reeves Yan (+852 9463 9892) of Colliers International Hong Kong Limited
    • Jonathan Chau (+852 6341 2382) of Savills International Hong Kong Limited
      if you have any further enquiries regarding to this property.

     

     

     

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