Press release
CBRE Appointed as the Sole Agent for the Sale of Prime Retail Ground Floor Shop at Malahon Apartments, Causeway Bay
April 14, 2026
Media Contact
Christine Tai
Associate Director, Marketing & Communications, Hong Kong
CBRE has been appointed as the sole agent for the sale of Shops Nos. 2, 2A & 3 on G/F, Malahon Apartments, Nos. 501-515 Jaffe Road, Causeway Bay (the “Property”). The Property is offered for sale through private treaty on an “as-is” basis with existing tenancy. The latest indicative price is HK$150 million, representing a unit price of HK$15,000 per square foot.
The Property has been fully leased to a single long-standing tenant, Wellcome, for over 36 years (since 1990), providing stable and proven rental income. The Property features large-scale ground-floor retail space of approximately 10,000 sq. ft., rarely available for sale in the heart of Causeway Bay, with an impressive frontage of about 30 feet along Jaffe Road, offering outstanding visibility and branding potential. Benefiting from exceptional pedestrian flow and connectivity, the Property is a two-minute walk from Causeway Bay MTR Station, SOGO Department Store, and Alibaba’s upcoming Hong Kong headquarters. Across the street from the Property is the terminus for multiple minibus routes, ensuring high foot traffic throughout the day.
Frederick Lai, Senior Director, Capital Markets, CBRE Hong Kong added: “According to the Census and Statistics Department, Hong Kong’s retail sales value in February 2026 rose 5.5% year on year to HK$35 billion approx.., while 2025 full year leasing volume reached 1.1 million sq. ft., the second most active year over the past decade. With retail market momentum returning and a meaningful correction from previous pricing peaks, the Property presents a defensive investment with resilient income and long term capital appreciation potential. By comparison, a 4,000 sq. ft. shop at Kyoto Plaza on Lockhart Road transacted in February 2025 at HK$31,250 per square foot, underscoring the relative attractiveness of the Property’s indicative pricing at HK$15,000 per square foot for a prime street shop in the heart of Causeway Bay”.
For any additional details about the sole agency, please contact Mr. Frederick Lai, Senior Director (Tel: +852 9194 5323 | S-416744), Capital Markets, CBRE Hong Kong.
Property Advertising Number: CBRE-CM-ADV5607
The Property has been fully leased to a single long-standing tenant, Wellcome, for over 36 years (since 1990), providing stable and proven rental income. The Property features large-scale ground-floor retail space of approximately 10,000 sq. ft., rarely available for sale in the heart of Causeway Bay, with an impressive frontage of about 30 feet along Jaffe Road, offering outstanding visibility and branding potential. Benefiting from exceptional pedestrian flow and connectivity, the Property is a two-minute walk from Causeway Bay MTR Station, SOGO Department Store, and Alibaba’s upcoming Hong Kong headquarters. Across the street from the Property is the terminus for multiple minibus routes, ensuring high foot traffic throughout the day.
Frederick Lai, Senior Director, Capital Markets, CBRE Hong Kong added: “According to the Census and Statistics Department, Hong Kong’s retail sales value in February 2026 rose 5.5% year on year to HK$35 billion approx.., while 2025 full year leasing volume reached 1.1 million sq. ft., the second most active year over the past decade. With retail market momentum returning and a meaningful correction from previous pricing peaks, the Property presents a defensive investment with resilient income and long term capital appreciation potential. By comparison, a 4,000 sq. ft. shop at Kyoto Plaza on Lockhart Road transacted in February 2025 at HK$31,250 per square foot, underscoring the relative attractiveness of the Property’s indicative pricing at HK$15,000 per square foot for a prime street shop in the heart of Causeway Bay”.
For any additional details about the sole agency, please contact Mr. Frederick Lai, Senior Director (Tel: +852 9194 5323 | S-416744), Capital Markets, CBRE Hong Kong.
Property Advertising Number: CBRE-CM-ADV5607