Savills & CBRE Appointed as Joint Sole Agent for the Sale of a Portfolio of Prime Properties at Jade Centre by Expression of Interest

Jade Centre comprises retail units from G/F to 3/F, while 4/F and above are designated for office spaces. The units for sale range from approximately 918 to 2,920 sq. ft., featuring well-proportioned layouts. Situated in the prime commercial area of Central, the property enjoys an excellent location with a close proximity to Hong Kong MTR Station, Central MTR Station, and prominent landmarks including the SOHO district, The Center, Queen's Road Central, and IFC. The area boasts bustling foot traffic, making it an ideal business location.

Mr. Peter Yuen, Managing Director, Investment of Savills said,
"The market value of the property is approximately HK$380 million, at approximately HK$16,000 per sq. ft. Looking at the recent transactions of similar properties, the top five floors of the neighbouring 92 Wellington Place , which was developed by CSI Properties Limited, was sold for approximately HK$290 million (approximately HK$25,000 per sq. Ft). In comparison, the subject property portfolio for sale offers a golden investment opportunity at an affordable price as the key owner has held the property for over 30 years. Hence, investors and buyers should not miss this opportunity.”

Mr. Reeves Yan, Executive Director, Head of Capital Markets of CBRE commented, “The portfolio of properties for sale represent more than 50% of the ownership of the entire building. Also, the property can be subdivided for individual sale, providing a high degree of flexibility. The occupancy rate is currently 100%, offering immediate and stable rental income for potential buyers. The tenant mix has a wide range of business, including F&B, personal care services, fitness centers, bridal shops, and tailoring shops. It caters to a strong customer base in the surrounding commercial area, providing commercial and retail services. The tenants have a strong ability to support the rental.”

Property Advertising Number: Savills INV02411RS /  CBRE-ADV-3239