property for sale

The property has a market value of $7b.

The purchase price translates to $82,000 per square foot.

Notable HDB shophouse occupants are 7-Eleven convenience stores.

The property comprises two buildings with a total gross floor area of 88,154 sq ft.

The property’s estimated worth is $230m.

The asking price is equivalent to $32,000 per square foot.

It will be sold on an “as is” basis.

Tender invitations for both lots start on 13 January.

The prices of the properties range from  $18.2m to $550m.

The site has a maximum gross floor area of 44,615 sq m.

It was awarded on a 50-year land grant.

The site is designated for non-industrial purposes.

The auction will be held on 3 November.

Bridgeway Prime Shop Fund and Owl Square Co-living acquired the properties.   Six retail shops and nine residential units at Kin Sun Building, Nos. 11-19 Yen Chow Street in West Kowloon were sold separately to two buyers for a total consideration of $100m, its marketing agent, JLL announced.   Bridgeway Prime Shop Fund acquired the retail shops for $70m, whilst Owl Square Co-living Founder Max Poon and AL Group Limited Chairman Laurence Chan got a hold of the residential units.   “All these six connecting corner shops with wide frontages are very rare in the area. With numerous residential redevelopment projects nearby, I am very optimistic about the price appreciation potential of this investment,” Edwin Lee, founder of Bridgeway Prime Shop Fund, said.   Accordion to Lee, the shops provide a passing yield of 3% and could achieve a yield of 5% when projects nearby the properties are completed.    Poon, for his part, said he will transform the nine residential units into “high quality and affordable living options for young professionals.”

It will be sold by public tender.

It will be sold on an “as-is” basis.