CBRE Lists Tsim Sha Tsui East Office Units for HK$116 Million
SingTao · 2 SOURCESabout 1 hour ago2 MIN
Summary
CBRE has been appointed as exclusive agent to sell two sea-view office units at Yung An Square on Mody Road in Tsim Sha Tsui East, with a combined asking price of HK$116 million. The properties span a total of 7,293 square feet and are being sold with existing tenancies. The asking price of approximately HK$15,800 to HK$16,000 per square foot represents a significant discount from historical highs, according to the agency .
Key Points
- The first unit, Room 305 on the third floor, covers 1,749 square feet and overlooks Salisbury Road with Victoria Harbour views, priced at HK$28 million
- The second unit, Rooms 811-814 on the eighth floor, spans 5,544 square feet with partial harbour views, priced at HK$88 million
- CBRE Senior Manager Li Ruowu noted that sea-view office units in Tsim Sha Tsui East are extremely rare in the market
- The properties are situated just one minute's walk from Exit P1 of the MTR Tsim Sha Tsui East Station, suitable for clinics, beauty centres, education institutions, and general offices
- Both units are sold with existing leases, providing buyers with immediate stable rental income
Why It Matters
The listing comes at a time when commercial property prices in prime Hong Kong locations have retreated from their peaks, offering potential buyers an entry point at more competitive levels. The combination of scarce sea-view office space in the Tsim Sha Tsui East business district and the appeal of immediate rental returns may attract interest from investors and professional firms seeking quality office premises in a well-established commercial hub .
The listing comes at a time when commercial property prices in prime Hong Kong locations have retreated from their peaks, offering potential buyers an entry point at more competitive levels. The combination of scarce sea-view office space in the Tsim Sha Tsui East business district and the appeal of immediate rental returns may attract interest from investors and professional firms seeking quality office premises in a well-established commercial hub .