2025-03-12 28Hse Editor
In a sluggish commercial property market, a rare sale of an entire commercial building in the core business district emerges. The entire Grade A commercial building at 152 Queen's Road Central, Central, has recently been entrusted for a tender sale. The building currently has an occupancy rate close to 100%, with an estimated value of about HK$1.4 billion and a price per square foot of about HK$17,310.
The property, located at 152 Queen's Road Central, is a 28-story commercial building. It features a dual-frontage design facing both Queen's Road Central and Wellington Street. The average floor space ranges from 2,531 to 3,733 square feet, with a total commercial area of about 80,876 square feet.
Floors from the ground level to the 15th floor are designated for banking, commercial shops, dining, or retail purposes, while floors 17 to 30 are used for office spaces. The building includes a sky garden and activity platform on the 3rd floor, and the 29th to 30th floors feature signature top levels with terraces. The property is newly listed for sale via tender, with an estimated value of about HK$1.4 billion, translating to a floor price of approximately HK$17,310 per square foot.
The entire newly completed commercial building, rare in the area and with an occupancy rate close to 100%, was finished in 2020.
Thomas Chak of Colliers Hong Kong mentioned that the building is located in the core business district and, being newly completed in 2020, its full-building lease offer on the market is extremely rare. The building currently enjoys near full occupancy with stable rental returns. Notably, the ground floor tenant is the renowned chain restaurant 'FRITES.’
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