JLL and Cushman & Wakefield have been appointed as the joint sole  agents for the tender of a commercial building located at No. 1, Humphreys Avenue, Tsim Sha Tsui. The  tender closing deadline will be at 12:00 noon, 26 February 2025 (Wednesday). The market estimated the  property value at approximately HKD 1.68 billion. 

The property, situated in the bustling center of Tsim Sha Tsui, is a 25-storey commercial building with a total  gross floor area of approx. 58,591 sq ft. The G/F and 1/F are designated for retail shops, while the upper  commercial floors include the 3/F & 5/F to 10/F, and the 15/F to 19/F. The 20/F to 23/F are allocated for  restaurant use. The Property, which is located near the prime area of Nathan Road and adjacent to MTR  Tsim Sha Tsui station, benefits from excellent transportation links and a constant flow of foot traffic, offering unmatched accessibility for both locals and tourists alike. 

Renowned for its state-of-the-art design, the property boasts advanced facilities and premium finishing throughout, making it ideal for establishing a powerful corporate presence or creating dynamic retail and  office spaces. Additionally, the G/F and 1/F feature an ultra-wide shop frontage, flexible floor plans, and  robust loading capacity, offering businesses greater flexibility to accommodate a wide range of retail  concepts and business needs. The upper floors provide stunning panoramic sea views, enhancing the  property's prestige and appeal while boosting tenants' brand value and market competitiveness. 

Eunice Tang, Executive Director of Capital Markets at JLL in Hong Kong, said: "This property not only  boasts a prime location and design but also serves as a key hub for future commercial development in the  area. Its significant value for maximum visibility is noteworthy. Tenants may consider the potential for  prominent rooftop signage, ensuring their brand stands out in Hong Kong's iconic skyline. Such  configurations can greatly increase brand exposure while providing additional revenue opportunities for  tenants,”  

“The property is to be sold on an 'as is' basis with vacant possession, which is suitable for major corporate  brands for own use or investment. After the recovery of mainland visitors, the number of tourists in various  travel areas in Hong Kong has seen the most significant increase, particularly in Tsim Sha Tsui, which is  driving commercial demand. We believe this property's investment value will be further unlocked, showcasing  significant appreciation potential," she added. 

Brandon Yeung, Director of Capital Markets at Cushman & Wakefield, Hong Kong, said: "As an  extension of Haiphong Road, the first section of Humphreys Avenue experiences exceptionally high  pedestrian and vehicle traffic. This property is just a step away from the MTR station's A2 exit. Tourists are  immediately attracted to its over 50 ft storefront as they exit the station, leading to continuous rental enquiries  from various brands for the ground floor space. The building features a sophisticated design with nearly 5- metre high ceilings and expansive floor-to-ceiling glass, creating an open and inviting atmosphere. The upper  floors include terraces and sky gardens that offer stunning views of Victoria Harbour and the lush greenery of  Kowloon Park, making it an ideal location for upscale dining establishments. This brand-new landmark  building, with its stylish design and convenient proximity to the Tsim Sha Tsui MTR station exit, represents a  rare opportunity to acquire a high-quality core property in the market." 

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