On Yip Factory Building, No.33 Ivy Street, Tai Kok Tsui /CBRE

Over 90% undivided shares of Tai Kok Tsui site on sale: CBRE

The 10-storey industrial building is on sale until 15 September.

About 90% of undivided shares of On Yip Factory Building will be on sale by public tender, which will end on 15 September 2022 at 12 noon, CBRE said.

CBRE, the appointed agent for the sale, said the 10-storey building located along No. 33 Ivy Street in Tai Kok Tsui, has attracted young city dwellers as well as developers, funds, and long-stay operators.

The industrial building has a site area of 5,390 square feet and a total gross floor area of 51,784 square feet.

READ MORE: Commercial real estate investment deals hit $16.0b in Q2 

Commenting on the sale, Sam Tsang, director of capital markets in CBRE, said: “The building falls under the Residential (E) zone in the Mong Kok Outline Zoning Plan, which makes it eligible for redevelopment as a commercial/residential building through lease modification with the Lands Department and an application to the Planning Department.”

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