Central Cochrane Street Shop Sells for HK$75M, Buyer Linked to Bandai Agent
SingTao · 1 SOURCESabout 2 hours ago6 MIN
Summary
A ground-floor shop with mezzanine at 30-34 Cochrane Street, Central, in the Mei Lun Building (Shop B, Unit 32, G/F) has been sold for HK$75 million . The new buyer acquired the property through Wan Ling Development Limited, whose directors include Cheng Hon-chiu (鄭漢超) and Lui Sai-wa (呂瑞華), both associated with Sunnic Loan & Finance Company (瑞華行), the Hong Kong agent for Japanese toy giant Bandai . The shop comprises approximately 1,000 square feet on the ground floor and 800 square feet on the mezzanine level, translating to a price of HK$75,000 per square foot for the ground floor alone . The previous owner purchased the property in August 2023 for HK$64.8 million and recorded a paper profit of HK$10.2 million, representing a 15.7 percent appreciation over three years . Currently, the premises are tenanted by Brentwood Coffee, while the former occupant, Japanese restaurant Rollie, vacated on June 30, 2024, paying a monthly rent of HK$150,000 . Based on the old rental rate, the yield was merely 2.4 percent .
Key Points
- The shop at 30-34 Cochrane Street sold for HK$75 million, with ground floor price per square foot reaching HK$75,000
- Directors of purchasing company Wan Ling Development Limited include Cheng Hon-chiu (鄭漢超) and Lui Sai-wa (呂瑞華), both Sunnic Loan & Finance linked
- Previous owner bought in August 2023 for HK$64.8 million, sold for HK$75 million, making HK$10.2 million profit or 15.7% gain
- Current tenant Brentwood Coffee occupies the shop; former tenant Japanese restaurant Rollie left on June 30, 2024 with HK$150,000 monthly rent
- Li Kun-hsing (李根興) from Sheng Hui Commercial Property Fund noted the shop outperformed the market: while Rating and Valuation Department retail prices fell 35%, this shop rose 16%, outrunning the market by over 50%
Why It Matters
Sunnic Loan & Finance Company and its associates have deployed over HK$460 million acquiring Central district properties in recent years, including a whole building at Cochrane Street 8 for HK$95 million in the second half of 2025, previously held by century-old herbal medicine shop Chun Wai Tong (春回堂) . The firm's aggressive acquisition streak signals confidence in Central's retail prospects despite broader market headwinds, with the upcoming Central Crossing development (jointly developed by Capital Strategic and Tai Sang Bank) expected to boost foot traffic in the Cochrane Street area .
Sunnic Loan & Finance Company and its associates have deployed over HK$460 million acquiring Central district properties in recent years, including a whole building at Cochrane Street 8 for HK$95 million in the second half of 2025, previously held by century-old herbal medicine shop Chun Wai Tong (春回堂) . The firm's aggressive acquisition streak signals confidence in Central's retail prospects despite broader market headwinds, with the upcoming Central Crossing development (jointly developed by Capital Strategic and Tai Sang Bank) expected to boost foot traffic in the Cochrane Street area .