International real estate firm Savills is appointed as the sole agent for the sale of a portfolio of retail properties at Mei Foo Sun Chuen Stage 4, No. 69 – 119 Broadway, includes Shop 99A on G/F, Remaining Portion of 103A on 1/F, 104A on 2/F & 112A on 3/F Podium Floor ("The Property"). The total gross floor area of the Property is approximately 47,383 square feet, and it will be sold on an "as-is" basis, with partly vacant and partly with existing tenancies.

The Property features a four-level retail podium, with each floor offering a gross floor area ranging from approximately 5,200 to 17,371 square feet. Current tenants include major chain restaurants and banks. The exterior is equipped with several large advertising boards that can enhance brand exposure for tenants. The Property is ideally located in Mei Foo Sun Chuen, one of the residential estates with the highest number of blocks in Hong Kong, and is close to Manhattan Hill, which has over 14,000 nearby residential units. This results in vibrant foot traffic and extremely high retail demand. It is also just a short distance from Mei Foo MTR Station and several bus stops, making it very convenient for transportation.     

Ms. Sharon Fong, Senior Director, Investment, Savills Hong Kong said, “The asking price for the Property is HKD 320 million, with an attractive unit price of approximately HKD 7,000. It is expected to generate rental income of over HKD 1.9 million, yielding a return of about 7-8%, making it a highly valuable investment. As the aging population issue continues to rise, the government and various companies have expressed concern about the needs of the elderly. The first and second floors of this property each exceed 16,000 square feet, making it a rare large space in the market, ideally suited for creating a shopping centre focused on the elderly, catering to their daily needs for entertainment, dining, healthcare, and shopping.”

For further information, please contact Sharon Fong, Senior Director, and Jason Wo, Deputy Senior Director, Investment, Savills Hong Kong as the details below.