CBRE Sells Office Portfolio in Central-Sheung Wan with Harbor Views
AM730 · 1 SOURCESabout 2 hours ago2 MIN
Summary
CBRE has been appointed as exclusive agent to sell a portfolio of three Grade A office properties located in Hong Kong Island's prime Central and Sheung Wan commercial districts. The properties offer a combined gross floor area of approximately 8,223 square feet, with select units commanding panoramic views of Victoria Harbour. Investors and owner-occupiers can purchase the assets individually or as a bundled package, with pricing expected to be competitive and attractive relative to historical peaks.
Key Points
- The portfolio comprises three properties: Bobath Center on Connaught Road West in Sheung Wan (20th and 22nd floors, totaling 5,050 sq ft with unobstructed harbour views), Shing Kay Commercial Centre (12th floor units 05-06, approximately 1,893 sq ft, mid-floor sea-view office), and Fu Wai Commercial Building on Des Voeux Road Central (3rd floor full unit, approximately 1,280 sq ft) .
- CBRE Hong Kong Capital Markets Director Jim Yan noted that the Hong Kong Island office market has recorded consecutive transactions, with sustained user demand supporting deal activity, particularly for full-floor office units favored by both local and mainland Chinese companies .
- Recent comparable transactions include the sale of Bobath Center 13th floor in March 2025 at HK$8,900 per square foot, and Shing Kay Commercial Centre 37th floor unit 06 in April 2026 at HK$8,200 per square foot, providing pricing benchmarks for the market .
- The properties feature efficient layouts with excellent natural lighting and are strategically located near MTR stations and major transportation hubs in the Central and Western District, ensuring convenient commuting for office workers .
- The assets are being sold with existing tenancies in place, offering investors immediate rental income while owner-occupiers can benefit from favorable entry pricing compared to the market peak .
Why It Matters
The sale of this portfolio provides a barometer for Hong Kong's office market recovery, particularly in the premium Central and Sheung Wan corridor where limited supply and strong infrastructure continue to attract corporate tenants. With current pricing at a meaningful discount to peak levels, the transaction outcome will signal whether office values have stabilized or face further correction, impacting investment sentiment across the commercial property sector .
The sale of this portfolio provides a barometer for Hong Kong's office market recovery, particularly in the premium Central and Sheung Wan corridor where limited supply and strong infrastructure continue to attract corporate tenants. With current pricing at a meaningful discount to peak levels, the transaction outcome will signal whether office values have stabilized or face further correction, impacting investment sentiment across the commercial property sector .