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HONG KONG, 25 OCTOBER 2012 – Jones Lang LaSalle has been appointed by the owner, Hang Seng Bank Limited to conduct a public tender sale for three shop units on G/F and the entire 1/F of Kam Heung Building, Aberdeen. The tender will close at 12:00 noon, on Wednesday, 9 January 2013.
The property now for sale includes the entire floor of 1/F and the shop units A, B and C on G/F of Kam Heung Building, 128 Aberdeen Main Road, Hong Kong. 1/F and G/F each covers a saleable area of approximately 2,900 sq ft, making up a total saleable area of approximately 5,800 sq ft. Well connected by an internal staircase, the two floors enjoy a highly efficient layout, nearly column-free, that ensures flexible subdivision for sale or for lease.
Located on the south of Aberdeen Main Road in the core of Aberdeen, the property is close to Aberdeen Centre and the residential cluster, commanding a huge pedestrian flow. Situated adjacent to the Aberdeen Bus Terminus where offering around 20 routes of bus and minibus services, the property enjoys excellent accessibility. Moreover, there are various bus and minibus routes and taxis running along Aberdeen Main Road.
On the other hand, the proposed Aberdeen Tourism Project including the development of the Aberdeen Promenade, together with the government’s plan to revitalise and transform Wong Chuk Hang into a tourist, hotel and commercial/business district, will help drive Aberdeen’s overall commercial and economic development.
Standing on a corner site, the property now for sale has three shop fronts, with the one facing Aberdeen Main Road stretching a width of about 62 ft. Moreover, 1/F and the G/F shops are connected by an internal staircase, which is rare in the market. Given the limited supply of large-size commercial/retail premises available for sale in Aberdeen, coupled with the hot retail sentiment and the positive outlook for Aberdeen’s retail sector, we expect that the property can achieve a monthly rental of approximately HK$400,000, with a yield of about 3.2%. With its strategic location and superb quality, the property is expected to attract the attention from investors and end-users alike,’ says Danny Chan, Jones Lang LaSalle’s National Director at Hong Kong Capital Markets.
‘With a site area of approximately 3,194 sq ft and a corner position with three shop fronts, the property commands 50% of the undivided shares of the lot that it embraces the potential for redevelopment,’ adds Danny Chan.
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