Sheung Wan Mixed-Use Building on Sale for HK$72 Million with Tenants in Place
AM730 · 1 SOURCESabout 4 hours ago6 MIN
Summary
International property consultancy Savills (Hong Kong) has been appointed as exclusive agent to sell a mixed-use commercial-residential building located at 20-22 Queen's Road West in Sheung Wan. The six-storey property, with a total gross floor area of approximately 6,920 square feet and a site area of about 1,260 square feet, is being offered for sale with existing tenancies at an asking price of approximately HK$72 million . The building comprises a ground-floor shop, first-floor office space, and residential units on floors two through five, with the commercial portions and residential floors currently leased to established tenants, providing immediate cash flow for prospective buyers .
Key Points
- The property features a ground-floor shop and first-floor office, each measuring approximately 1,260 square feet, while residential units on floors two through five offer about 864 square feet of net usable area each
- Savills Senior Assistant Director of Investment Thomas Fung (馮偉全) noted the property benefits from a rare 999-year lease, which offers significant long-term holding value and investment advantages
- The current combined monthly rental income stands at approximately HK$270,000, with the ground-floor shop occupied by a well-known restaurant brand and residential floors leased to a serviced apartment operator until 2033
- The building is strategically situated between Sheung Wan and Sai Ying Pun MTR stations, approximately a six-minute walk away, and lies near the Central business district and about 15 minutes by car from the University of Hong Kong
- The property appeals to seasoned investors and buy-to-rent buyers due to steady housing demand from professionals and students in the Hong Kong West Island area
Why It Matters
The sale represents a rare opportunity to acquire a fully tenanted mixed-use property in Hong Kong's core Sheung Wan district, where 999-year leasehold assets have become increasingly scarce on the market . For investors seeking stable returns, the property's diversified tenancy structure—combining retail, office, and residential uses—mitigates vacancy risk while the guaranteed rental income until 2033 provides long-term cash flow certainty . This transaction could set a benchmark for similar composite buildings in the Western District as institutional and individual investors continue to seek yield-generating assets in a low-interest-rate environment .
The sale represents a rare opportunity to acquire a fully tenanted mixed-use property in Hong Kong's core Sheung Wan district, where 999-year leasehold assets have become increasingly scarce on the market . For investors seeking stable returns, the property's diversified tenancy structure—combining retail, office, and residential uses—mitigates vacancy risk while the guaranteed rental income until 2033 provides long-term cash flow certainty . This transaction could set a benchmark for similar composite buildings in the Western District as institutional and individual investors continue to seek yield-generating assets in a low-interest-rate environment .