Prime Development Site in Heart of Kowloon for Sale by Public Tender
Riding on the record-breaking land prices of commercial sites in government's public tender recently, No. 223 Nathan Road, at which Shamrock Hotel currently stands, is now for sale by public tender.
HONG KONG, April 9, 2018 – Riding on the record-breaking land prices of commercial sites in government's public tender recently, No. 223 Nathan Road, at which Shamrock Hotel currently stands, is now for sale by public tender. JLL has been appointed as the sole agent for this public tender. The tender will close on 20th June, 2018 (Wednesday).
Nestled in the heart of Kowloon, the Shamrock Hotel site at 223 Nathan Road, is in close proximity to exits C1 and C2 of Jordan MTR Station as well as a handful of bus stations, enjoying heavy pedestrian flow day and night. As it is on a corner plot, the site has high retail value and redevelopment potential.
According to Tsim Sha Tsui Outline Zoning Plan No. S/K1/28, the site has been zoned for commercial use. Occupying a site area of over 9,000 square feet, the property can be used for non-industrial purposes under the government lease and is fit for commercial redevelopment. The site could generate a maximum gross floor area of more than 100,000 square feet.
Joseph Tsang, Managing Director and Head of Capital Market at JLL, said: "Taking the centre stage in Kowloon, the site on offer commands excellent transport accessibility. The strong retail value and high occupancy rate in the district show the high investment value of the area. With the Guangzhou-Shenzhen-Hong Kong Express Rail Link expected to start running this year, the area is set to benefit from the buzz and excitement brought forth by the even busier scene,"
"This property, offering redevelopment potential to amalgamate with buildings on single titles in the immediate vicinity, is destined to stand out from the crowd making it a remarkably attractive option for investors looking for solid, quality investment or developers looking for redevelopment opportunities," he added.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com