CBRE Lists Cheung Sha Wan Ground-Floor Shop with Tenant at HK$14.4M
AM730 · 1 SOURCESabout 2 hours ago2 MIN
Summary
CBRE has been appointed as sole agent to market a ground-floor retail unit at On Fat Building, 28 Cheung Fat Street in Cheung Sha Wan, Kowloon. The 833-sq-ft shop is being sold with the existing tenancy at an asking price of HK$14.4 million, translating to approximately HK$17,287 per sq ft. The property has been held by the original owner since 1992 and is being sold via private treaty .
Key Points
- Property located at Shop A, G/F, On Fat Building, 28 Cheung Fat Street, Cheung Sha Wan, Kowloon, with gross area of approximately 833 sq ft
- Asking price of HK$14.4 million yields a unit price of HK$17,287 per sq ft; property held by original owner since 1992, over 34 years
- One existing tenant has occupied the premises since 1994, over 32 years, providing stable rental income for incoming buyers
- Property situated in mature residential district near So Uk Estate, Lei Cheng Uk Estate, and luxury developments Hei Foo, Hei Yong, Hei Ying, Hei Wan
- CBRE projects rental yield of approximately 5%; future buyers may consider restructuring tenant mix to boost rental income
Why It Matters
The listing represents a rare opportunity to acquire a well-located neighbourhood retail asset with a verified track record of stable income. Wong Hung-kwong, Deputy Director of CBRE Hong Kong Capital Markets, noted that quality urban shops held by long-term owners and tenanted by reliable lessees rarely come to market, making this a noteworthy opportunity for investors seeking defensive income streams in the current market environment .
The listing represents a rare opportunity to acquire a well-located neighbourhood retail asset with a verified track record of stable income. Wong Hung-kwong, Deputy Director of CBRE Hong Kong Capital Markets, noted that quality urban shops held by long-term owners and tenanted by reliable lessees rarely come to market, making this a noteworthy opportunity for investors seeking defensive income streams in the current market environment .