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News Release

Hong Kong

Cheuk Nang Plaza for Sale En Bloc by Public Tender

HONG KONG, 5 August  2014 - According to the sole agent JLL, Cheuk Nang Plaza, No. 250 Hennessy Road, Hong Kong is now up for sale en bloc by public tender. The sale is by way of a sale of the indirect shareholding in the property holding company. The property is held by Success Well Investment Limited, an indirect wholly-owned subsidiary of Cheuk Nang (Holdings) Limited. The tender will close at 12:00 noon on Tuesday, 23rd September 2014.  The landlord is expecting an offer of HK$880 million.

Cheuk Nang Plaza comprises 32 storeys, with a site area of approximately 3,746 sq ft and a total gross floor area of approximately 55,622 sq ft.  The building accommodates 25 car parking spaces.  The typical floor plate of the office floors is over 2,000 sq ft while the slab-to-slab ceiling height is 3.5 m.

Located at the core part of Hennessy Road in Wanchai, Cheuk Nang Plaza is close to some of the city’s most famous hotels, shopping malls and office towers, enjoying heavy pedestrian and traffic flow. While it is only a few-minute walk from Wan Chai MTR Station, the property is well served by various means of transport including tram, bus and minibus.

Cheuk Nang Plaza commands a superb location and excellent accessibility, with its close proximity to Admiralty commercial area.  Its office space has been highly sought-after among quality tenants. Its existing tenants are mainly small-to-medium enterprises from various sectors such as construction, trading and travel services. The high-floor office units enjoy Victoria Harbour view.

“The property now for sale will definitely become another market focus following the successful sale of Wing Hang Finance Centre at 60 Gloucester Road, Fook Yee Building and Fook Lee Commercial Centre in Wanchai recently. In fact, commercial buildings available for sale en bloc in the CBD areas on Hong Kong Island have been a scarcity.  Office space in Wanchai has been increasingly popular among tenants, end-users and investors, with its close proximity to the Admiralty commercial district as well as the new Grade-A office completions and redevelopment schemes in the vicinity, such as 28 Hennessy Road, Three Pacific Place extension and Asia House Redevelopment Scheme.  With its strategic location, Cheuk Nang Plaza has the potential to transform into a new landmark in Wanchai.  We expect it to attract bids from local consortiums, overseas funds and investors,” commented by Danny Chan, JLL’s Regional Director, Capital Markets, Hong Kong.