Tai Kok Tsui industrial portfolio offered for $62m

Eleven-unit asset comes with near-full occupancy.

An 11-unit industrial portfolio at Wai Yick Industrial Building in Tai Kok Tsui has been put up for sale with an estimated market value of about $62m, its marketing agent JLL said.

The portfolio at 101 Bedford Road has a total gross floor area of about 24,552 square feet (sq ft), including a flat roof, and is being offered on an as-is basis with existing tenancies. The units span the first to fourth floors, the fifth to seventh floors, the ninth floor, and the 11th to 13th floors.

The asset is close to fully occupied, providing buyers with immediate rental income. Recent comparable transactions in the same building have also shown steady price appreciation, with some deals exceeding $2,500 per sq ft, according to the sales agent.

The property sits within Tai Kok Tsui’s urban renewal area, where nearby redevelopment projects include One Bedford Place, Two Bedford Place, and Kowloon Investment Building.