200 car parking spaces in Chai Wan up for sale

Tender closes on 28 November.

According to a release, Colliers International has been appointed as the sole agent to offer the 200 car parking spaces at Winner Centre (the Property) in Chai Wan for sale by public tender. The tender will close at 12 noon, 28 November 2013 (Thursday).

The Property includes car parking spaces Nos. 13 to 31 and Nos. 38 to 54 on 2/F, Nos. 1 to 54 on 3/F, Nos. 1 to 54 on 4/F and Nos. 1 to 56 on 5/F at Winner Centre located at 333 Chai Wan Road. The Property is currently leased to a renowned car park operator offering high, stable and hassle-free rental income.

Bernadette Lau, Associate Director of Investment Services at Colliers International Hong Kong, highlights the excellent location where the Property sits.

“It takes just a few minutes to reach the Island East Corridor and Eastern Harbour Tunnel, which connects to Central and the growing CBD2 in Kowloon East in a mere 15 minutes.”

“The Property enjoys direct and stable demand from the 452 residential units and shopping centre of Winner Centre located above.

Furthermore, a number of residential, commercial, retail complexes as well as leisure spots nearby, such as New Jade Shopping Arcade, Youth Square, Chai Wan Municipal Services Building, Law Uk Folk Museum, etc., bring high potential for additional parking bay requirements.”

On the subject of overall demand for car parking spaces, Lau shared that car park owners generally stand 

to earn a stable rental income due to rising demand for car parks.

“Over the years, we have seen an increasing number of new private car registrations. For example, in 2012, a total of 42,892 new private cars were registered in Hong Kong, which is an increase of 1,557 new registrations Year-on-Year (YoY),” she said.

“Besides, car parking spaces have less to almost zero maintenance fees in comparison with other commercial properties, making it an attractive option for investors looking for a long term holding with a stable high yield return.

Investors can also consider offering the parking spaces for sale individually as an exit strategy,” added Lau.

The Property could be sold by way of shares transfer. Interested parties please feel free to contact Ms. Lau at 2822 0571/ 9361 5633 for more information.