JLL Appointed as Sole Agent for The Tender Sale of the retail podium at Billionnaire Royale, Kowloon

HONG KONG, July 03, 2018 – JLL has been appointed as the sole agent for the public tender sale of retail podium-cum-23 car parking spaces at Billionnaire Royale, No.83 Sa Po Road, Kowloon. The tender will be closed on 15thAugust, 2018. The property is estimated to be valued at about HK$1 billion.

Nestled in the historic urban district of Kowloon City, Billionnaire Royale, one of the few high-end residential project in the district, is conveniently situated close to Kai Tak Development area and the tree-lined Kowloon Walled City Park. This vibrant neighbourhood is also home to a treasure trove of restaurants and shops, and the area is always bustling with constant traffic and pedestrian flow. The property for sale at Billionnaire Royale offers large floor plates rarely available in the Kowloon City District, with high flexibility to be subdivided into various shops or to accommodate mega flagship stores, which can be comfortably fitted for different trades such as F&B, restaurants, educational institutions and entertainment.

The property encompasses shop numbers 1-4 on the G/F and the whole 1/F and 2/F of the retail podium, providing a gross floor area of approximately 60,293 square feet, as well as a total of 23 car parking spaces – CP01-CP23 – on the 3/F. The property will be sold on an "as is" basis with the benefit of existing tenancy.

Cynthia Li, Regional Director of Capital Market at JLL, said: "Billionnaire Royale is fabulously located in the heart of Kowloon City and is only a stone's throw away from the upcoming Kai Tak Station of the Shatin to Central Link, commanding excellent transport accessibility. In light of the positive impact from the Link, which is scheduled to open in the near future, the outlook for the area is particularly rosy presenting strong retail value and investment potential. With its location adjacent to the Kai Tak Development Area and core business districts in Kowloon East, coupled with new developments in the vicinity, we expect the area to benefit further from increasing footfall and retail consumption. It is believed that the property on offer will win much favour with investors seeking high-quality investment opportunities in real estate assets."