International real estate firm Savills is appointed as the sole agent for the sale of Shop 2A on UG/F, Parkvale, No.1060 King’s Road, Quarry Bay, Hong Kong (“The Property”). The Property offers approximately 10,527 square feet of space and is being sold on an "as is" basis with existing supermarket tenancies. The indicative price for the Property is approximately HK$155 million.

Strategically located in the heart of King's Road, the Property enjoys excellent visibility and high foot traffic, surrounded by numerous large-scale residential developments, schools, and commercial buildings. It is conveniently situated in close proximity to the Tai Koo MTR station, ensuring easy accessibility and excellent connectivity. Furthermore, the Property boasts an expansive frontage facing King's Road, providing exceptional advertising exposure.

Mr. Raymond Wan, Chief Senior Director of Investment at Savills, commented, "The recent announcement of axing all extra stamp duties in the latest 2024/25 Budget has increased the maximum mortgage loan ratios for non-residential properties from 60% to 70%. We believe this policy will stimulate the overall investment sentiment. In line with the existing Wellcome Supermarket tenancy, this property is suitable for long-term investors or prominent local families looking to generate rental income."

Ms. Sharon Fong, Senior Director of Investment at Savills, added, "Despite the challenging external economic environment, retail premises related to community living have shown resilience. Additionally, the existing tenancy with Wellcome, which extends until 2026, provides immediate stable rental income for buyers. Moreover, the area benefits from a large population, which we believe will continue to generate substantial returns for the Property in the future."

Interested parties are invited to contact Savills (Hong Kong) Limited for more information or to arrange a viewing of the Property. For further information, please contact Raymond Wan and Sharon Fong.