Photo from Knight Frank.

Tenement buildings in Kowloon sold for $260m

It was sold to Apex Intelligence Limited.

The property, Nos. 163, 165, 167 and 169, in Yee Kuk Street in Sham Shui Po, in Kowloon was sold via public auction to Apex Intelligence Limited for $260m.

In a statement, Knight Frank said the property collectively is composed of two pairs of tenement buildings. The first pair was six storeys high, sharing only one common staircase, whilst the second pair was five-storeys sharing two common staircases.

READ MORE: Rising interest rates, weakening economy dampen residential property demand

The Propertyfalls within a residential area surrounded mainly of aged tenement blocks with retail shops on the ground floor and high-rise residential developments.

The majority of the ground floor is occupied by ironmongers and retailers. It is also accessible via public light buses, franchised buses and taxes. The Sham Shui Po and Nam Cheong MTR stations were a 10-minute walk away from the property.

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