KONNECT at 303 Jaffe Road up for sale via expression of interest
Current average rent in the building is around $40 per square foot.
KaiLong Group has put up for sale its en-bloc commercial asset, KONNECT at 303 Jaffe Road,
Colliers, the property’s sole agent, will sell the 25-storey building via an expression of interest (EOI) exercise.
The EOI closing date is 27 September 2023, Wednesday.
According to Colliers, KONNECT has a total floor area of 86,212 square feet.
The building’s tenants include Kingkey Financial International Limited, MI Energy Holdings, Garage Society.
Currently, average rent in the building is around HK$40 per sq. ft.
“Most leases [were] signed during the pandemic period, indicating a potential increase of 20% to 40% in the future,” Colliers said.
“Additionally, the rooftop has obtained approval from the Buildings Department to add advertising billboards, which can be used by new buyers for brand promotion or rental purposes, enhancing rental returns,” Colliers added.