CBRE Appointed as the Sole Agent For Sale of WORFU, 21-53 Wharf Road, North Point by Public Tender

CBRE has been appointed by the Owner as the Sole Agent for the sale of WORFU, Nos. 21-53 Wharf Road, North Point, Hong Kong. The Property will be sold on ‘as-is basis’ with existing tenancies by Public Tender, and tender closing date is set at 12:00 noon, 21st February (Friday).

The subject property boasts a total gross floor area of 210,000 sq. ft. approx., with 98 shops on basement, ground floor and upper ground floor levels. The owner undertook a comprehensive renovation of the entire shopping mall between 2019 to 2021, with numerous well-known chain brands were introduced to the mall. In particular the “WORFU Academy” concept was created, focusing on various types of educational organisations and special interest classes operators, providing school-children and students diverse extra-curricular activity options to the North Point community and beyond.

Barry Chung, Director, Head of Client Care, CBRE Hong Kong, said: “WORFU mall is strongly benefited from having one of the strongest median household income brackets on the island, which supports the retail offerings in this key community mall. WORFU is surrounded by a mature estate with a higher-than-average domestic household size which fuels demand. The purchasing power in the North Point area is immense with there is also a significant working population and students. The subject property is one of the main shopping malls in the area, with a clear focus and identity that attracts many tenants in household goods, catering group and restaurants, and education, whilst serving daily and essential goods and services to nearby residents.” 

Barry Chung added: “The evolution of North Point shoreline with recent large scale infrastructure projects being delivered, as well as many new commercial and residential developments completing recently adding hustle and bustle to the area, WORFU is set to compliment the development of this district perfectly and continue to serve its residents in the next stage of North Point’s evolution. We look forward to the public tender launch of this project as an opportunity to ride on the huge upside yet to be crystalised from all the recent developments from the malls surrounding.” 

For inquiries about the property details, please contact Barry Chung, Director, Head of Client Care, (T: +852 6604 0426) or Churchill Keung, Assistant Manager (Phone: +852 6679 2298), Investment Property & Private Office, Capital Markets, CBRE Hong Kong.