Enterprise Square Phase I Parking Spaces Net HK$32M as 32 Units Sold
On.cc · 1 SOURCES1 day ago2 MIN
Summary
A batch of 32 parking spaces at Enterprise Square Phase I in Kowloon Bay has been sold for approximately HK$32 million, with the remaining 11 spaces now launched for sale at HK$1 million to HK$1.1 million each. According to Midland Greata (Commercial) Office Division senior manager Mak Wai-cheung, the sale project comprises 43 parking spaces in the second and third tower car parks on the second floor. The transactions have attracted both nearby corporate users purchasing for self-use and investors from other districts seeking long-term rental income. The broader Kowloon Bay commercial property market is showing renewed momentum, with the International Trade Centre, The Cendas, and Tai Fung Pavilion recording new tenants recently.
Key Points
- Enterprise Square Phase I, Tower 2 and Tower 3, second-floor car park contains 43 parking spaces total, with 32 units sold to date generating HK$32 million in revenue
- The remaining 11 parking spaces are priced between HK$1 million and HK$1.1 million per space, targeting both corporate buyers and investment purchasers
- The 21-storey Grade A office complex features ground and first floors for commercial tenants including CTS Hong Kong Permit Service Centre and various F&B outlets, with office floors attracting finance, technology, construction, and education tenants
- The development is connected via covered walkway to Enterprise Square Phase II and Nan Fung Commercial Centre, enhancing connectivity for the cluster of commercial and industrial buildings
- International Trade Centre recently secured a Japanese toy brand manufacturer as tenant for approximately 8,270 sq ft on a high floor, while The Cendas and Tai Fung Pavilion attracted HKU SPACE and an international school respectively
Why It Matters
The parking space sales and recent leasing activity signal growing confidence in the Kowloon Bay commercial property market, which could boost sentiment across the broader industrial and commercial sector as businesses expand and investors seek yield in a recovering market.
The parking space sales and recent leasing activity signal growing confidence in the Kowloon Bay commercial property market, which could boost sentiment across the broader industrial and commercial sector as businesses expand and investors seek yield in a recovering market.