• Savills Hong Kong’s first large transaction in 2023 – West 9 Zone sold for HK$748 million

    13 January 2023

    (12 January 2023, Hong Kong) International real estate firm Savills has forged the first large transaction in 2023, the commercial development of Florient Rise, West 9 Zone at No. 38 Cherry Street, Tai Kok Tsui, Kowloon. The property was sold to Sunlight REIT for HK$748 million. The property has an approximate gross floor area of 58,836 square feet.

    The property is well positioned with a covered footbridge linkage to Olympic Station and located at Tai Kok Tsui, a mixture of the commercial and residential area surrounded by office buildings such as HSBC Centre and over 23,000 residential units which consist of a wide customer base. Besides, a number of large-scale reconstruction projects nearby will turn the area into a new-generation hub.

    Mr. Peter Yuen, Managing Director of Savills, commented, “We believe that the improving retail sentiment with the re-opening of the Mainland China and Hong Kong border will bring more potential development and business opportunities to this project. We are excited to complete this large transaction at the beginning of 2023.”Mr. Jason Wo, Director, Investment of Savills added, “Despite the challenges in the economy these years, the local consumption sector has proven to be a resilient sector. Especially the existing tenant mix which focusing on education and F&B in West 9 Zone will generate a relatively stable return.”


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