CBRE has been appointed by the owner as the sole agent for the sale of the T-Plus commercial podium and car park at No. 2 Tsing Min Path, Tuen Mun. The market value is around HK$200 million, which translates into a unit price of, excluding the value of car park and G/F shop, below HK$3,000 per sq. ft.

T-Plus is located in the “Hung Kiu” residential area of Tuen Mun, which is well-known for its restaurants, food stalls, dessert shops and bars, making it a popular dining spot for local residents. It is just a 3-minute walk to the Light Rail Line’s Prime View Stop, providing easy access to Tuen Mun and Yuen Long. There are also multiple bus and minibus routes nearby, connecting Tuen Mun town centre with various districts in Hong Kong and Kowloon, offering good public transport.

There are three parts for the property for sale, namely the shopping arcade, the G/F shops, and the car park, with a total gross area of 39,228 sq. ft. The shopping arcade section includes the entrance on G/F, the entire 1/F and 2/F, with a total gross area of approximately 35,691 sq. ft. The ceiling of the shopping arcade is extremely high, ranging from about 4.9 to 5.6 meters, and it is equipped with elevators and escalators, suitable for different trades.

The owner has also obtained approval from the Buildings Department for building plans to convert it into an elderly home, offering flexibility in usage. The shops on G/F comprise of three units, with gross areas ranging from approximately 625 to 1,807 sq. ft. The shops are all equipped with gas supply, three-phase electricity, and lavatories, and thus are suitable for F&B tenants. The car park provides a total of 47 private car spaces and 5 motorcycle spaces, which are wide enough for easy parking. They are all equipped with electricity supplies, offering considerable rental returns.

Darren Yan, Associate Director, Investment Property & Private Office, Capital Markets, CBRE Hong Kong, said: “The building was completed in recent years and is in excellent condition. The shopping arcade, shops on G/F and car park together provide a total gross floor area of approximately 39,228 sq. ft. Coupled with the outstanding specifications, high ceilings, three-phase power supplies, and the ownership of most of the external wall of the podium, it offers opportunities to put up advertisements for higher exposure and this is suitable for use by elderly homes, religious groups and educational institutions, etc. If purchased for investment and rental purposes, the potential return is very attractive too.”

For further information, please contact Darren Yan, Associate Director, Investment Property & Private Office and Ray Chan, Senior Manager of Capital Markets, CBRE Hong Kong as the details below.