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News Release

Hong Kong

Hang Seng Adds Portion of Flat Roof of 5/F to Its Commercial and Retail Portfolio in Kam Heung Building

Tender closing date postponed to 31 January 2013

HONG KONG, 3 JANUARY 2013 – According to its sole agent Jones Lang LaSalle, Hang Seng Bank Limited (hereafter referred to as ‘Hang Seng’) has decided to include portion of flat roof of 5/F to its commercial and retail portfolio of three shop units on G/F and the entire 1/F of Kam Heung Building. The property is now for sale by public tender. The tender closing date will be postponed to 12:00 noon, Thursday 31 January 2013. The indicative price of HK$150 million remains unchanged.

‘The public tender is originally scheduled to close next Wednesday. Given the overwhelming response received so far, and with the newly added portion of flat roof of 5/F, Hang Seng has decided to postpone the tender closing date to allow sufficient time for prospective buyers to prepare for their tender submission,’ said Danny Chan, Jones Lang LaSalle’s National Director at Hong Kong Capital Markets.

‘The supply of large-size G/F commercial/retail premises available for sale in Aberdeen has been rare. Since the launch of the property for public tender in October, it has been warmly received by the market, and more than ten parties, including end-users and investors, have expressed their interest in submitting their tenders’, added Danny Chan.

The property now for sale includes the shop units A, B and C on G/F and the entire 1/F and portion of flat roof of 5/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, ensuring flexible subdivision for sale or for lease. 

Located in the core of Aberdeen, Kam Heung Building commands excellent accessibility and enjoys a huge pedestrian flow. With a site area of approximately 3,194 sq ft and a corner position with three shop fronts, Hang Seng’s portfolio commands 50% of the undivided shares of the lot, embracing a potential for redevelopment.