More than 80% shares of residential property at Kowloon on sale: JLL

The property is estimated to be worth over $180m.

Over 83.96% shares of the property at Tak Cheong Lane in Kowloon were put on sale, which is estimated to be worth over $180m, JLL, said.

In a statement, JLL, the appointed sole agent, said the eight-storey property is at Nos. 16, 16A, 18, 20, 22 and 22A Tak Cheong Lane, a core residential area.

The asset has a site area of 3,668.43 square feet (sq ft) and a saleable area of 18,557 sq ft.

With its convenient location at the core residential zone, it offers transport links with Yau Ma Tei Mass Transit Railway station within three-minutes walking distance.

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“The property will be sold on an "as-is" basis and is subjected to existing tenancies and/or licences. It could be transacted via partly asset sales and partly equity sale,” read the statement.

JLL Chairman Joseph Tsang said developers are actively acquiring old buildings with potential for redevelopment and properties in core areas, which makes the property at Kowloon “attractive” for investors.