29 October 2012, Hong Kong – Colliers International has successfully concluded the sale of 94 Hollywood Road (the Property) to a local investor for HK$66.8 million.
The en-bloc property of 4-storeys is sold on an as-is basis with vacant possession. With the total gross floor area of 1,965 sq ft, the average sales price is close to HK$34,000 per sq ft.
Reeves Yan, Director of Investment Services at Colliers International Hong Kong said that the Property provides an excellent whole block renovation opportunity in the vibrant Soho area, which is potential for usage of F&B, fashion shop, art gallery or chi office. In addition, the building’s prominent frontage and convenient vehicular access with parking spaces right at the doorstep of the Property provide added values.
“This transaction demonstrates solid investment demand in the market, particularly in prime locations where property stock available for sale is limited,” said Yan.