CBRE appointed as the sole agent for sale of the entire 28th floor, Enterprise Square Three

(12 July 2023, Hong Kong) CBRE has been appointed as the Sole Agent for the sale of a full-floor sea-view Grade A office floor on the 28^th floor of Enterprise Square Three (ESIII), No. 39 Wang Chiu Road, Kowloon Bay by private treaty.

The property will be sold via vacant possession, and it is highly flexible for investment or occupancy purposes. Enterprise Square Three is a leading benchmark Grade-A commercial building in Kowloon Bay. With the gross floor area of 16,100 in square feet. approx.. (to be verified), the property enjoys a 180-degree panoramic seaview of Victoria Harbour and Kai Tak. The estimated market value of the property is approximately HK$180 million, which is equivalent to approximately HK$10,800 psf approx. Comparing with the previous transaction on the lower level of ESIII where the entire 8^th floor was sold for HK$200 million (HK$12,579 psf) in 2018, the unit price of the subject property has fallen by more than 10%. In addition, the floor “28” is an auspicious number in Chinese culture and it is on a high level of the building. The property represents a golden investment opportunity and is a top choice for setting up headquarters of large enterprises. Reeves Yan, Head of Capital Markets, CBRE Advisory Hong Kong said: “Enterprise Square Three is located strategically in the heart of Kowloon East. The area has emerged to be a mature commercial zone with comprehensive community and infrastructure support in recent years, which is ideal for corporate headquarters, various industries and trades. Enterprise Square Three was completed in 2004, which is adjacent to MEGABOX, Kai Tak Development Area, Kowloon Bay MTR Station, and a number of large-scale urban development projects. It is expected to bring ample business advantages to the new buyer.”