En-bloc commercial building on Nathan Street up for sale
The 16-storey building currently has a 100% occupancy.
Hanford Commercial Center, an en-bloc commercial building on Nathan Street, is up for sale, according to CBRE.
The 16-storey property, located in the prime retail and tourist area of Yau Tsim Mong, has a total floor area of 68,189 square feet (sq ft) with typical floor plates ranging from 3,913 to 4,146 sq ft.
CBRE added that the property could be turned into a Ginza-type commercial building, medical building, beauty centres, and education centres, aside from just serving as corporate headquarters.
“Therefore, the rental performance of the property had been better than other buildings within the area and current occupancy reaches 100%,” it said.
ALSO READ: GDP growth eases to 1.5% in 2Q23
“Currently, the tenant mix of the building is mainly fashion-related. However, due to the growing demand for medical tourism, there has been an influx of healthcare, medical, and beauty service tenants taking up spaces in Hanford Commercial Centre,” CBRE said.
Arthur Yeung, Executive Director of Capital Markets at CBRE Hong Kong said the rental for the upper floors of the property reached over $90 per square foot during peak times.
The property is also near multiple bus stops in front of the main entrance with bus lines traversing Hong Kong Island, Kowloon and the New Teritorries, and is also located next to an exit of Jordan MTR Station.