sold
Hing Wai Centre.
13,440 gsf with high appreciation potential
A stunning industrial investment property. Two full seaview units 11,918 sqf, storage & reserved spaces (1,522 sqf) and a carpark (currently occupied by 3 vehicles) in Tin Wan/Aberdeen. High future growth potential due to ‘Invigorating South Initiative of the HK government and Tin Wan MTR station.
Highlights
- 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
Sold in 2021
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)