CBRE Appointed As the Sole Agent For Sale by Expression of Interest of a Basket of Shops & 1/F in Kam Ho Mansion, Nos. 159-163 Hollywood Road Soho District

CBRE has been appointed as the Sole Agent for the sale of a basket of retail shops and one commercial floor in Kam Ho Mansion on Nos. 159-163 Hollywood Road in Central Soho district, which is located opposite to the famous cultural attraction Man Mo Temple.  The property for sale includes units on 3 levels (LG, G/F and 1/F) in Kam Ho Mansion totalling a gross area of approx. 7,300 sq. ft. and is accessible from Hollywood Road, Ladder Street as well as Upper Lascar Row.  It will be sold on an “as-is” basis with vacant possession.  The sale will be made by Expression of Interest and the submission deadline will be at noon of 18 October 2023 (Wednesday).

This sizable retail property for sale (over 33% of the total undivided shares of Kam Ho Mansion) offers three street-wide shop frontages and over 3 meters floor-to-floor ceiling height, making it suitable for a wide variety of business trades.  The property was occupied by two restaurants (Japanese and French), and an art gallery on 1/F.  The prime location is perfect for those looking to invest in or open art galleries, cultural exhibition spaces, and trendy hotspots for all age groups, including young professionals.  

In recent years, the Government's conservation and revitalization of the Soho District is set to transform the area into one of the city's most vibrant and exciting destinations, increasing the footfall of local and foreign visitors.  Moreover, the subject location is supported by strong rental demand in the vicinity, backed by quality, high-end, and popular F&B.  This presents a unique opportunity for investors to capitalize on the growing demand for retail space in the area.

"Investments in the retail sector in the first half of 2023 picked up, thanks to the positive market outlook contributed by the growing spending of both local people and visitors post-pandemic. While visitor arrivals in the last quarter translated to only approx. 55% of the pre-pandemic level in 2017-2019, given the surging visitor arrivals, strong investment activity and the positive sentiment in Hong Kong’s retail market, the demand for retail shops in core locations is expected to rise,” said Fendy Wai, Director, Capital Markets, CBRE Hong Kong.

“We believe the retail and commercial units in Kam Ho Mansions will be highly sought-after by high-end caterers for operation or private investors seeking for long-term capital growth and strong returns.  We are excited to offer this rare sizable retail/commercial investment opportunity to the market," said Simon Yu, Associate Director, Capital Markets, CBRE Hong Kong.

For any enquiries regarding this Property, please contact Fendy Wai, Director, Capital Markets, CBRE Hong Kong (tel: +852 9382 9808); or Simon Yu, Associate Director, Capital Markets, CBRE Hong Kong (tel: +852 9685 8365).

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Property Advertising Number: CBRE-CM-ADV3983