Press Release
CBRE has been appointed as the Sole Agent For Sale of A Basket of Commercial Units at Rykadan One, No. 23 Wong Chuk Hang Road, Hong Kong by Expression of Interest
August 15, 2024
Media Contact
Christine Tai
Associate Director, Marketing & Communications, Hong Kong
CBRE has been appointed by the Owner as the sole agent for the sale of a basket of commercial units of Rykadan One, at No. 23 Wong Chuk Hang Road, Hong Kong. The Property Portfolio will be sold by open invitation for Expression of Interest (EOI), and the deadline is set at 12:00 noon, 30 August 2024 (Friday).
The portfolio for sale is located at the new Grade A landmark commercial building on Hong Kong Island South, which was developed by Rykadan Capital and completed in 2021. The building has 27 floors and is about a 3-minute walk from the Wong Chuk Hang MTR station. Designed by the master from Roppongi JERDE in Japan, G/F and 1/F are the entrance lobby, the 2/F to 5/F are for retail use, and the 6/F to 29/F are for office use. Rykadan One has a floor height of about 4.75 meters, offering a spacious feel with flexible and functional layouts for multiple uses. The building provides 3 passenger elevators, and a fire service elevator, and features a three-level basement car park for drivers.
Avan Pau, Senior Director, Investment Property & Private Office, Capital Markets, CBRE Hong Kong, said: “The properties for sale are distributed across various levels of Rykadan One, with unit sizes ranging from approximately 747 sq. ft. for individual units to 6,187 square feet for whole-floor office, including the top four floors, which boats a gross floor area of 63,687 sq. ft. The portfolio also includes 28 private car parking spaces and 4 motorcycle spaces, which are rare in the district. The opening of the South Island MTR Line connects Wong Chuk Hang with all districts of Hong Kong, enabling strong footfall and vibrancy in the area. With more businesses moving in, the area has been transformed from a residential and light-industrial area into a diversified community with residential, commercial, shopping, and leisure elements. As the new lifestyle landmark mall, THE SOUTHSIDE opened in 2024, there are major changes in the vicinity. Rykadan One, stands out as the leading high-specification office and commercial project in the neighboring area. The previously sold floors were transacted at a price of HK$13,000 per sq. ft. Many buyers are optimistic about the building’s potential thanks to the geographical edge. The sale is likely to attract strong buyers bidding for their own use and long-term investment.”
For inquiries about the property details, please contact Avan Pau, Senior Director (T: +852 9836 9656) or Eugene Wong, Director (Phone: +852 6512 3638), Investment Property & Private Office, Capital Markets, CBRE Hong Kong.
Photos are for reference only
Property Advertising Number: CBRE-CM-ADV4626
The portfolio for sale is located at the new Grade A landmark commercial building on Hong Kong Island South, which was developed by Rykadan Capital and completed in 2021. The building has 27 floors and is about a 3-minute walk from the Wong Chuk Hang MTR station. Designed by the master from Roppongi JERDE in Japan, G/F and 1/F are the entrance lobby, the 2/F to 5/F are for retail use, and the 6/F to 29/F are for office use. Rykadan One has a floor height of about 4.75 meters, offering a spacious feel with flexible and functional layouts for multiple uses. The building provides 3 passenger elevators, and a fire service elevator, and features a three-level basement car park for drivers.
Avan Pau, Senior Director, Investment Property & Private Office, Capital Markets, CBRE Hong Kong, said: “The properties for sale are distributed across various levels of Rykadan One, with unit sizes ranging from approximately 747 sq. ft. for individual units to 6,187 square feet for whole-floor office, including the top four floors, which boats a gross floor area of 63,687 sq. ft. The portfolio also includes 28 private car parking spaces and 4 motorcycle spaces, which are rare in the district. The opening of the South Island MTR Line connects Wong Chuk Hang with all districts of Hong Kong, enabling strong footfall and vibrancy in the area. With more businesses moving in, the area has been transformed from a residential and light-industrial area into a diversified community with residential, commercial, shopping, and leisure elements. As the new lifestyle landmark mall, THE SOUTHSIDE opened in 2024, there are major changes in the vicinity. Rykadan One, stands out as the leading high-specification office and commercial project in the neighboring area. The previously sold floors were transacted at a price of HK$13,000 per sq. ft. Many buyers are optimistic about the building’s potential thanks to the geographical edge. The sale is likely to attract strong buyers bidding for their own use and long-term investment.”
For inquiries about the property details, please contact Avan Pau, Senior Director (T: +852 9836 9656) or Eugene Wong, Director (Phone: +852 6512 3638), Investment Property & Private Office, Capital Markets, CBRE Hong Kong.
Photos are for reference only
Property Advertising Number: CBRE-CM-ADV4626
About CBRE Group, Inc
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services (based on 2025 revenue). The company has more than 155,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, data center solutions); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services (based on 2025 revenue). The company has more than 155,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, data center solutions); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.