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News Release

Hong Kong

Prime Retail Premises in Oxford Heights, 12 Fuk Lo Tsun Road for Sale

Unit A on G/F, Units A, B & C on 1/F, Oxford Heights

​​Hong kong, 25 June 2014 – According to the sole agent JLL Hong Kong, the property comprising Unit A on G/F, Units A, B & C on 1/F, Oxford Heights, 12 Fuk Lo Tsun Road, Kowloon City is now for sale.  The property is to be sold on an "as-is" basis and with the benefit of the existing tenancy.  The indicative price is approximately HK$80.8 million.

Completed in 2005, Oxford Heights is a 28-storey residential building.  Its G/F and 1/F are designated for retail use, 2/F is a clubhouse, 3/F is the refuge floor, and 5/F to 30/F are for domestic use (4/F, 14/F and 24/F are omitted).  Located in Fuk Lo Tsun Road, nearby to Prince Edward Road West, Oxford Heights is well served by a range of facilities, including banks, restaurants, shopping malls and convenience/services stores.

The property now for sale includes Unit A on G/F, Units A, B & C on 1/F, Oxford Heights.  According to the information provided by the vendor, Unit A on G/F has a GFA of approx. 1,660 sq ft, with a frontage of approx. 22.5 ft; Units A & B on 1/F has a total GFA of approx. 1,630 sq ft; Unit C on 1/F is the flat roof, having an area of approx. 1,500 sq ft.

"The property now for sale is a good-size retail premises having a high ceiling height and a wide shop frontage, which is ideal for various types of retailer.  The property is currently leased to an international pre-school and kindergarten at a monthly rental of HK$150,000.  The tenancy lasts for 6 years starting from 2013, ensuring a stable rental income.  The population or pedestrian flow in the area is expected to increase significantly in the coming years with the completion of the new residential projects. Moreover, the accessibility of the area will be improved with the completion of the Shatin to Central Link, which will likely enhance the value of the retail properties,' comments Daniel Mok, Associate Director of Capital Markets, JLL Hong Kong.

"Units B & C, G/F, Oxford Heights were sold for HK$77 million, or approximately HK$31,300 per sq ft based on GFA, in May this year.  It's currently leased to a local restaurant, generating a rental yield of about 2.1%.  The indicative price of the property now for sale is HK$28,000per sq ft, which is at a reasonable level.  We expect it to attract tremendous interest from investors," adds Mok.