"Port Building" Kwun Tong Hongtu Road Century Industrial Center 1st Floor Entire Floor for Sale Intended Price HKD 125 million

CBRE has been appointed as the exclusive agent to sell the entire first floor of Century Industrial Centre, 46 Hung To Road, Kwun Tong, which is a super-large industrial floor with an area of approximately 48,952 square feet. The building is equipped with 6 freight elevators and can accommodate 40-foot container trucks. The asking price is HKD 125 million.

Dickson Tai, Deputy Director of the Hong Kong Capital Markets Department at CBRE, stated that currently about 70% of the property’s area is leased to a computer parts supplier, which is a long-term stable tenant. If the remaining space is leased at market rates, the expected return rate could reach as high as 6.5%. Morris Mok, Senior Director of the Hong Kong Capital Markets Department at CBRE, added that based on the asking price, the price per square foot for the property is only HKD 2,553. Previously, a budget of over HKD 2,000 per square foot would only allow for the purchase of properties in non-core areas such as Tuen Mun, Kwai Chung, and Fanling, indicating that the asking price is far below the level in the same area