The commercial space on Hong Kong Island has always been popular among users, and this time the owner has entrusted the sale of a shop in a prime location in Wan Chai, making it very attractive. Tang Tak-choi, Senior Sales Director of Maxiwell Shop, stated that the bank has been entrusted by the owner to handle the sale of Shop 27 at 25-27 Haiphong Road, Wan Chai (No. 27 Haiphong Road). The property has a built-up area of approximately 630 square feet (unverified), with the owner intending to sell it for around 29.8 million Hong Kong dollars, equivalent to about 47,000 Hong Kong dollars per square foot. The property is currently rented out for about 80,000 Hong Kong dollars, resulting in a rental yield of approximately 3.2%.
According to Tang, the shop being represented has a width of about 21 feet and a depth of 30 feet, currently rented by a Japanese restaurant. Located on Haiphong Road in Wan Chai, near Lee Tung Avenue and the large residential estate Lee Theatre Plaza, it is the heart of Wan Chai with strong consumer power from residents. Additionally, with numerous characteristic restaurants and trendy brand merchants in the area, as well as a unique pedestrian street and outdoor market, it attracts many tourists, providing a strong flow of consumers for nearby businesses.
Tang continued to point out that the location is superior, situated in a bustling area for both residents and tourists. Lee Tung Avenue, facing the property, is a popular spot for tourists to check in and is also an MTR entrance. It is only a few steps away from Johnston Road, the main street in the area, providing tram and bus stops to various districts, making transportation extremely convenient, with amenities such as shopping malls, hotels, and banks readily available for residents.
Tang mentioned that a review of the data shows that transactions in Haiphong Road can be traced back to September 2021 during the pandemic. Shop 21 and its loft were sold for 47 million Hong Kong dollars, with the property having a ground floor area of approximately 681 square feet and a 600 square foot loft (unverified). Therefore, Haiphong Road is an excellent choice for rental investment and a development area that developers have been keeping an eye on. The shop owner initially priced it at around 38.8 million Hong Kong dollars earlier this year but has now lowered it by over 20%, showing sincere intentions and expected to attract serious buyers soon.