CBRE Appointed As Sole Agent for the Sale of Five Industrial Buildings, Hong Ting Road, Sai Kung, New Territories via Expressions of Interest

CBRE has been appointed as the sole agent for the sale of five industrial buildings at Nos. 1, 2, 6, 7, & 9, Hong Ting Road, Sai Kung, New Territories, via Expressions of Interest. The submission deadline is set for 12nn, November 16, 2023 (Thursday). The current asking price is HK$1.4 billion with an average price of approx. HK$3,655 per square feet. Buyers can choose to purchase the whole lot or individual buildings. 

Located on Hong Ting Road, Sai Kung and adjacent to Hiram's Highway, the portfolio is conveniently located and is only five-minute away from  Sai Kung town. The five high-specifications en-bloc buildings, either three or four storeys, boast an land area of approx. 129,526 sq. ft., with a gross floor area of 53,138 to 100,583 sq. ft. per building. The floor load-bearing and floor height are all of high standard, maximizing the variety of uses and flexibility. Buyers can consider converting the respective building into cold storage, mini-storage, data centre, or automobile serving facility to enhance asset value.

Property	Site Area (approx.)	Plot Ratio Gross Floor Area (approx.)
No.1, Hong Ting Road	30,677 sq. ft.	100,583 sq. ft.
No.2, Hong Ting Road	18,094 sq. ft.	59,991 sq. ft.
No.6, Hong Ting Road	34,778 sq. ft.	76,977 sq. ft.
No.7, Hong Ting Road	34,778 sq. ft.	92,325 sq. ft.
No.9, Hong Ting Road	15,177 sq. ft.	53,158 sq. ft.
Total	129,526 sq. ft.	383,034 sq. ft.

The property area is zoned for residential development (Group E) 1. Applications can be filed to the Town Planning Board for residential redevelopment. The landlord has previously received approval from the Town Planning Board to develop the subject properties into social welfare facilities (elderly homes), offering 1,127 beds and involving 251,000 sq. ft. Buyers may consider paying land premium to redevelop the property into elderly homes. 

Tony Ng, Senior Director, Capital Markets, CBRE Hong Kong said: “Tight supply and low vacancy of industrial properties over the past few years have made the rental level of industrial assets remain stable and outperformed other asset classes. Many quality en-bloc industrial buildings have been taken over by foreign funds or experienced investors, and the supply has been scarce. The fact that buyers can purchase the five high-spec industrial complex in one go is a scarce opportunity. In addition, as the project has been approved for the development of social welfare facilities (elderly homes), it can be redeveloped in the long run, further releasing the potential of the land. We expect the subject properties to attract keen interest from a wide pool of investors, developers and end-users.”

For any enquiries regarding this Property, please contact Tony Ng, Senior Director, Capital Markets (tel: +852 9031 7794) or Ray Chan, Assistant Manager, Capital Markets, CBRE Hong Kong (tel: +852 6103 5679).


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Property Advertising Number: CBRE-CM-ADV4191-4196