Savills Appointed Lead Agent for the Tender Sale of Retail Podiums of Park Summit & Park Ivy, Kowloon

The pair of podiums, known as the commercial development of Park Summit at No. 88 Beech Street, Kowloon, and the commercial accommodation of Park Ivy at No. 37 Pine Street / No. 35 Fuk Tsun Street / No. 8 Ivy Street, Kowloon, are within walking distance of Prince Edward MTR Station, Mong Kok MTR Station, plus the Olympic MTR Station which is the piece of infrastructure that spearheaded the rejuvenation of the Tai Kok Tsui area in Kowloon West. Today, Olympian City, HSBC Centre, The Hermitage and Square Mile are the signature developments near the podiums with a substantial residential and working population that creates a strong and stable demand for retail and F&B facilities.

The podiums at Park Summit and Park Ivy, which were completed in 2012 and 2014 respectively, come with modern specifications such as super-high ceiling height that is around 6m for the Ground Floor. The recently built commercial space is augmented by a classy European architecture style while seamlessly being a part of the vibrant commercial and residential hub that is Tai Kok Tsui today.  

Mr. Jason Wo, Director, Investment of Savills commented, "Situated in a newly developed area in Kowloon West, the two podiums as known as The Property can be sold together or separately. They boast a combined gross floor area of around 58,600 square feet, with around 47,000 square feet at Park Summit which abuts on three roads and features a spacious shopfront and 12 car parking spaces. The podium at Park Ivy based on a lesser scale of around 12,000 square feet in floor area. Current tenants at the two podiums include a fitness centre, a Chinese restaurant, F&B operators of a plethora of cuisines and an education centre, contributing to a stable stream of rental income for a prime retail asset which is a rare gem in the core Kowloon market."