CBRE Appointed as Sole Agent by Receivers for the Sale of 26–27/F at World-Wide House, Central

CBRE has been appointed by the receiver as the sole agent for the sale of the full-floor office properties on 26-27/F of World-Wide House, 19 Des Voeux Road Central, a landmark Grade A office building in the heart of Central. The property is a receivership asset and represents an exceptionally rare opportunity in the market: vacant possession of adjoining top-floor offices in Central. Amid a strong rebound in the office market, the offering is expected to attract keen competition from major corporates and investors.

Each of the two floors offers a gross floor area of approx. 10,383 sq. ft., making them rare full-floor vacant offerings in Central’s core district. The unique advantage as a top-floor duplex, combined with unobstructed Victoria Harbour views and a prime CBD location, gives it outstanding market appeal. Against the backdrop of accelerating transactions in core CBD areas and the active return of capital to the market, supply of such high-quality assets is extremely limited and is set to become a focal point for investors.

World-Wide House is located in the prime core of Central and is one of the few Grade A office towers directly above an MTR station. It is seamlessly connected via an extensive elevated walkway to Landmark, multiple five-star hotels, and key commercial landmarks. The property commands sweeping views of Victoria Harbour and panoramic vistas of Central’s core business district, significantly superior to most properties in the vicinity, and are considered trophy-grade assets with strong long-term value.

Reeves Yan, Executive Director and Head of Capital Markets, CBRE Hong Kong, said: “The Central and Admiralty office markets have shown a notable recovery in recent months, with core prime assets consistently achieving high-value transactions. For instance, DBS Bank recently acquired six floors at The Center in Central for over HK$2.6 billion, while the latest transaction at Far East Finance Centre in Admiralty saw upper-floor prices rise to around HK$26,000 per sq. ft., about 50% higher than the previous deal, clearly reflecting strong demand for core CBD assets. This receivership sale presents buyers with an opportunity to enter at an attractive price, coupled with excellent floor quality and considerable upside potential.”

Zac Wong, Senior Director, Capital Markets, CBRE Hong Kong, added: “Historically, full-floor transactions at World-Wide House have achieved prices of up to approximately HK$44,000 per sq. ft. (11th floor). In comparison, the current top-floor offering surpasses past transactions in both elevation and view quality. With the current asking price at a noticeable discount to peak levels, the value proposition is highly compelling and is expected to trigger strong market competition with a high likelihood of a swift sale. In addition, rents for Grade A offices in Central are steadily recovering, with some premium buildings recording year-on-year increases of up to 20%. The property offers flexibility for use as a corporate headquarters to enhance brand image, while also capturing rental upside, making it an ideal opportunity for both owner-occupiers and investors to position in Central’s core assets.”

For any additional details about the sole agency, please contact Reeves Yan, Executive Director, Head of Capital Markets (Tel: +852 9463 9892 | E-243218), or Zac Wong, Senior Director (Tel: +852 9583 4716 | S-508852), Capital Markets, CBRE Hong Kong. 

Property Advertising Number: CBRE-CM- ADV5631