Sham Shui Po Five-Storey Commercial-Residential Building Sold for HK$25.5 Million
AM730 · 1 SOURCESabout 3 hours ago2 MIN
Summary
Savills announced the successful sale of a five-storey commercial-residential building at 15 Un Chau Street in Sham Shui Po, Kowloon. The property, with a total building area of approximately 4,443 square feet, was sold with existing tenancies for approximately HK$25.5 million. The building comprises a ground-floor shop with mezzanine and residential units on floors one through three, with independent staircase and rooftop access. Located at the junction of Un Chau Street and Nam Cheong Street, the property sits in Sham Shui Po's traditional core district with convenient access to multiple MTR stations .
Key Points
- Property at 15 Un Chau Street, Sham Shui Po sold for HK$25.5 million with total building area of approximately 4,443 sq ft
- Ground-floor shop and mezzanine span approximately 1,424 sq ft; residential units range from 832 to 867 sq ft each
- Building is a five-storey structure at the junction of Un Chau Street and Nam Cheong Street, near Nam Cheong MTR Station
- Savills investment head Ng Pak-hei notes structural transformation in whole-building market following Simple Housing Ordinance
- New buyers with operational backgrounds are willing to invest in upgrading aging tong lau buildings to extend their lifespan
Why It Matters
The transaction highlights how Hong Kong's regulatory changes are reshaping the traditional tong lau market. With the Simple Housing Ordinance requiring registration and professional certification for subdivided units, many long-term owners are choosing to sell rather than invest in compliance upgrades. This trend is expected to accelerate over the next one to two years, potentially creating opportunities for investors willing to modernize aging properties while meeting evolving housing standards .
The transaction highlights how Hong Kong's regulatory changes are reshaping the traditional tong lau market. With the Simple Housing Ordinance requiring registration and professional certification for subdivided units, many long-term owners are choosing to sell rather than invest in compliance upgrades. This trend is expected to accelerate over the next one to two years, potentially creating opportunities for investors willing to modernize aging properties while meeting evolving housing standards .