72.53% undivided shares in Chuan Kei Factory Building on sale for HK$700m

The industrial building in Kwai Ching will be sold on an “as-is” basis.

A total of 72.53% of undivided shares in the Chuan Kei Factory Building will be up for sale at an asking price of HK$700m or a unit price of HK$4,000 per square feet.

It will be sold on an “as-is” basis and “partially with tenancies," JLL, the sole agent for the sale, said.

The industrial building, which has a total gross floor area of approximately 168,000 sq ft, is located at Nos. 15-23 Kin Hong Street in Kwai Chung, adjacent to Dorsett Hotel and the newly established data centre in Kwai Chung.

The property is also connected to the Kwai Chung section of Castle Peak Road.

“The property has high redevelopment value, and the short-term rental return can be substantial, so it can be both an aggressive and defensive investment option for investors. We expect it will attract interest from the market,” Ariel Tam, senior director of Capital Markets at JLL in Hong Kong, said.