Jardine Matheson Sells Kwai Chung Property at 40% Discount, Disposing HK Assets Continuously
On.cc · 1 SOURCESabout 1 hour ago2 MIN
Summary
British conglomerate Jardine Matheson or its associated companies continues to dispose of Hong Kong properties. After selling the car park portion of Causeway Bay's Jardine Centre earlier this year, the group has now divested a car maintenance workshop in Kwai Chung for approximately HK$52 million, representing a discount of over 40% from its original asking price. The transaction highlights ongoing strategic asset disposals by one of Hong Kong's most prominent British trading houses.
Key Points
- The property situated at Wo Yi Hop Lane 26-30, Kwai Chung, spans approximately 28,595 sq ft and features 4.3-metre high ceilings, direct vehicle access, an office, EV charging stations, and a car wash facility .
- The property was listed for sale in April 2026 at a market value of approximately HK$90 million, translating to HK$3,147 per sq ft, before the price was reduced to around HK$60 million in July .
- The final transaction price of HK$52 million reflects a per-square-foot rate of approximately HK$1,818, representing a discount exceeding 40% from the original market value .
- Jardine Matheson previously sold the car park on floors 2-6 of Causeway Bay's Jardine Centre for approximately HK$128.5 million in March 2026, with 199 parking spaces averaging HK$650,000 per space .
- The car park was originally launched in 2025 at a market value of approximately HK$280 million, ultimately selling at a 53.6% discount to veteran investor Choi Pak-nang, who subsequently sold individual spaces from HK$1.56 million each .
Why It Matters
The series of disposals by Jardine Matheson at significant discounts reflects a broader trend of foreign corporations rationalising their Hong Kong property portfolios amid changing market conditions. For local investors and property market observers, these transactions provide key market indicators of current valuation adjustments and investment opportunities in Hong Kong's commercial and industrial property sectors .
The series of disposals by Jardine Matheson at significant discounts reflects a broader trend of foreign corporations rationalising their Hong Kong property portfolios amid changing market conditions. For local investors and property market observers, these transactions provide key market indicators of current valuation adjustments and investment opportunities in Hong Kong's commercial and industrial property sectors .