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News Release

Hong Kong

No. 10 Lok Yip Road, Fanling, New Territories (Fanling Sheung Shui Town Lot No. 114) for Sale En Bloc by Public Tender

The tender will close on 5 June 2012

HONG KONG, 7 MAY 2012 – According to the sole agent Jones Lang LaSalle, the premises at No. 10 Lok Yip Road, Fanling, New Territories is now up for sale en bloc by public tender. The tender will close at 12:00 noon on 5 June 2012 (Tuesday). The property is to be sold on an as-is basis, with the benefit of vacant possession.

Completed in 2011, No. 10 Lok Yip Road is a brand-new, six-storey industrial/warehouse building covering a total gross area of 199,106 sq ft. The building's G/F has a car park that offers a total of 33 parking spaces, including one space for container trucks and six slots for heavy vehicles. It is also equipped with four cargo lifts and one passenger lift for vertical circulation.

The building’s entrance lobby and car park is found on its G/F, which has a slab-to-slab height of 18’10” to accommodate the parking and loading/unloading needs of heavy vehicles. Its 2/F to 6/F, each with a large floor plate gross area ranging from 37,273 to 42,212 sq ft, are designated for industrial/warehouse use. Each floor, from 2/F to 4/F, has a slab-to-slab height of over 13’; while 4/F comes with a terrace to offer extra flexibility for the tenants. 5/F and 6/F each has a slab-to-slab height of over 11’ and comes with its own air-conditioning system, are ideal for various warehouse storage purposes including those that have special specification requirements such as red wine storage and data centre operations.

No. 10 Lok Yip Road is strategically located in On Lok Tsuen, Fanling, New Territories, right between Lok Yip Road and Yip Cheong Street, and near On Lok Mun Street. With its close proximity to Sha Tau Kok Road and Man Kam To Road, the property enjoys direct access to the various China-Hong Kong ports of entry. The Route 9–Fanling Highway Section connects On Lok Tsuen with the different districts on Hong Kong Island and Kowloon Peninsula, which in particular serves the transportation needs of the logistics industry. On the north-west side of the property is Luen Wo Hui, an area that abounds with residential and commercial developments as well as retail and F&B outlets. Various transport modes such as buses, minibuses and taxis are available along Sha Tau Kok Road–Lung Yeuk Tau Section, while Fanling MTR Station is only a 10-minute walk.
Jones Lang LaSalle’s Managing Director and Head of Capital Markets Hong Kong Joseph Tsang comments, ‘The supply of newly completed warehouse properties available en bloc has been extremely limited. Those adjacent to the China-Hong Kong ports of entry and commanding direct access to the main highways are even a scarcity.’

The property now for sale is ideal for warehouse storage use as well as logistics and data centre operations to benefit from the closer relationship between Hong Kong and China. With its ability to accommodate the specific needs of the relevant industries, the property represents an excellent investment opportunity for buyers to acquire it for long-term leasing purpose,’ adds Tsang.