Highlights

  • Asking price 15% below average transactions in the building
  • Stamp duty savings of HKD 3M
  • All units are facing the waterfront and offer panoramic seaviews
  • High efficiency at 82% and low vacancy rates
  • Future growth potential: HK goverment’s Invigorating Island South Initiative & Tin Wan MTR station
  • Ramp access car parking space, currently occupied by 3 cars
  • Flexible assets: 5 titles (individual re-sale)
  • 3 reserved spaces and 2 store rooms on the same floor

Location

Hing Wai Centre, Unit 3,4, 19th Floor
including: reserved & storage spaces + car park
7 Tin Wan Praya Road, Tin Wan / Aberdeen, Hong Kong

5 min to MTR and 16 min by car to CBD

Status

  • Asking Price unit 3 & 4 plus storage spaces: Sale Price: 71.3M HKD @ 5,305 HKD/gsf (-15% below AVG transaction price in the building within the last 2 years)
  • Asking Price Carpark V3: 2.4M HKD (space for 3 vehicles)
  • Surveyor Valuation: 75.5M HKD (unit 3 & 4 + storage spaces) & 2.4M HKD (carpark)
  • Most recent transaction for a unit 3 in Hing Wai Centre: 7,435 HKD/gsf (+40% above asking price)
  • No Agent Fees: in case of direct sale only

  • 3M HKD in stamp duty savings due to share purchase

Arrange Your Viewing

weekdays during office hours

Why Invest in HK’s Industrial Market

  • Recovering investment sentiment and industrial recovery
  • Number of deals are increasing. Industrial spaces have shown more resilience than other sectors during the pandemic
  • Long-term investors enter the market seeking high & stable yields (>3.5% vs <3.0% in other commercial sectors)
  • Sales volumes continue to rebound due to double stamp duty abolition for commercial real estate
  • Low vacancy rates of 2.8% in Q3/2020
  • Industrial property conversions to other uses will continue (e.g. office for cost-saving reasons)
  • Demand for warehouse space near the city center providing last-mile logistics will continue to grow (e-commerce)

Value-add Potential

  • High-end office with panoramic seaviews
  • Vivid Invest can design and renovate the space to your specifications – see above renderings
  • Warehouse & office for last mile logistics
  • Tier 1 Data Center
  • Art gallery
  • Wine cellar
  • Stratification to create multiple offices and workshops (the asset currently has 5 titles)
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