CBRE has been appointed as the sole agent for the sale of Riviera Plaza, No. 1-9, 2-23 Yi Lok Street and No. 1-7, 2-12, Yi Hong Street, Tsuen Wan, via Expression of Interest. The submission deadline is set for 12nn, 12 December 2023 (Tuesday). The current asking price is HK$900 million, with an overall average of approx. HK$3,708 psf and approx. HK$2,884 psf excluding the car parking which is valued at around. HK$200 million. 

Completed in 1990, Riviera Plaza was the first vertical shopping mall in Hong Kong. With 11 storeys from G/F to 8/F and two basement levels, the property has a total gross floor area of 242,691 sq. ft. and offers 155 private car parking spaces and 16 lorry spaces.

The two high-speed lifts in the shopping mall connect the basement car park, G/F lobby and 6-8/F while the two scenery spectator passenger lifts located at the middle of the lobby, connect all levels except 1/F. The accessibility is further enhanced by escalators connecting from G/F to 8/F. Apart from the entrance from the G/F, the property is also accessible from the residential podiums on both 1/F and 2/F, providing greater convenience for residents of Riviera Garden to shops at Riviera Plaza.

Tony Ng, Senior Director, Capital Markets, CBRE Hong Kong said: “Tsuen Wan is a highly populated district with strong spending power and busy shopping malls in the vicinity namely Citywalk, Nina Tower, Tsuen Wan Plaza and Citistore. The property is surrounded by renowned residential developments – Riviera Garden, Waterside Plaza, City Point and The Pavilia Bay. A total of around 9,200 residential units combined from these four estates provides a stable and solid consumer base for the property. Furthermore, Tsuen Wan as a district will be benefited from the population growth and residential development plan underpinned by development plan of the Northern Metropolis in the long run. Riviera Plaza boasts a gross floor area of over 240,000 sq. ft. and has a particularly high ceiling height. Buyers can reposition the property into a theme mall for retail, lifestyle and entertainment to maximize return on investment.”