Leading diversified professional services and investment management company Colliers (NASDAQ and TSX : CIGI) is pleased to announce it has been appointed today as sole agent by the landlord for private treaty sale of multiple adjoining units on the 12th and 23rd floors, Southmark Tower B, 11 Yip Hing Street, Wong Chuk Hang.

Rare investment opportunities to acquire prime office spaces 

The sale includes multiple adjoining office units (Units 1207-1212, 1215-1216 and 2308-2310) featuring practical layouts and good use of space with an efficiency over 70%. Amply lit with natural light, the units boast lush mountain views and partial city view. All 11 units are to be sold with vacant possession and has a total gross area of about 10,394 sq. ft., presenting a rare opportunity to acquire large adjoining space in recent years.

Sharon Hung, Director, Capital Markets & Investment Services | Hong Kong, said: “Highly sought after by investors and end-users, Southmark offers traditional, high-quality office space in Wong Chuk Hang with an abundance of transactions.

Situated at a prime commercial area of Wong Chuk Hang, the property provides high accessibility with its transportation network. It is within walking distance from the Wong Chuk Hang MTR station, and just a few stops from Central and Causeway Bay. Also in close proximity is the Southside, a mixed development project comprising an abundant supply of residential units and the largest shopping mall in the Southern District. Upon the completion of the development, the population of Wong Chuk Hang will increase, with strong potential for spurring economic growth.

The office market in Hong Kong has become more upbeat with the reopening of the border with mainland China. A new grade A office building near Southmark fetched high transaction prices, with 23/F whole floor sold at an average price of HK$16,000 per sq. ft. last month. In addition, a unit in Bank of America Tower, a commercial building located in the traditional central business district, has recently registered a transaction of HK$38,300 per sq. ft. – a record high since the pandemic. Quality space will be favourably received by the market, and the properties put up for sale will definitely attract a wide group of end-users and long-term investors.”