CBRE Appointed As Sole Agent for the Sale of Entire 13/F and Eight Car Parking Spaces of Kowloon Commerce Centre Tower B

CBRE has been appointed as the sole agent for the sale of the entire 13/F and eight car parking spaces on 6/F of Kowloon Commerce Centre Tower B. The whole 13/F has a floor area of approx. 24,959 sq. ft. (to be verified). Half of the floor is occupied by a technology company and the other half is currently vacant. The asking price is set to be HK$300 million, which is equivalent to approx. HK$12,000 per sq. ft. 

Benchmarh Commercial Building in the Area Developed By Sun Hung Kai 
Tower A and B for Kowloon Commercial Centre were completed for moving-in in 2008 and 2012 respectively.  Developed by Sun Hung Kai Properties, this project adopted a twin-tower design. The property's exterior walls are all glass curtains, making it stand out from the surrounding industrial and traditional commercial buildings. An exclusive pick-up and drop-off area is available on the G/F of the building. Upon entering the main entrance, there are many retail shops in the lobby. Also, the extremely high ceiling makes the building comparable to the Grade A building in core districts. 

The building spans a total floor area of 1.1 million sq. ft. Tower A, consisting of 35 floors, offers a floor area of approx. 23,000 sq. ft. to 25,000 sq. ft. per floor. Tower B, consisting of 33 floors, provides a floor area of approx. 26,000 sq. ft. on each floor. Both towers boast similar vistas, overlooking the residential and industrial clusters in Kwai Chung, presenting an expansive landscape. 

As for transportation, Kowloon Commerce Centre is directly connected to the platform of Kwai Hing MTR station via a flyover. Right on Kwai Chung Road, there are bus and minibus stops going to Hong Kong Island and Kowloon area. In addition, the building features parking lots from 3/F to 7/F, offering more than 300 parking spaces for car drivers. 

Appealing Occupier Portfolio with Many Well-Known Chinese and Overseas Companies 
The majority of the floor space in Tower A of Kowloon Commerce Centre is owned by Sun Hung Kai  Properties, with a diverse portfolio of occupiers from Chinese and overseas companies such as China Mobile, Wells Fargo, Hong Kong Monetary Authority, etc. China Mobile, as one of the major occupiers, occupies more than 160,000 sq. ft. of space across seven floors. The developer sold Tower B in the early years and the owners are currently self-occupied institutions, including Hong Kong Metropolitan University, Tectronic Industries, Tung Wah College, Bank of America and BofA Securities, Shanghai Commercial Bank, China Shipping Group, etc. Such an impressive occupier portfolio adds value to the property’s valuation. 

“Although Kwai Chung is not a traditional business area, it offers excellent transportation support, with only a 25-minute MTR ride to Central. Moreover, the building quality is top-tier. Workers can directly access the lobby on the 1/F from the MTR platform via a flyover, a feature that has attracted companies. The owners of the building has been cautious to sell the property. Remarkably, there have been no transactions in the past seven years, and this sale represents the only entire floor available for purchase. Additionally, the property includes eight car parking spaces, making it a truly unique opportunity. For institutions and companies seeking their own space, this is an ideal investment opportunity,” said Zac Wong, Director, Capital Markets, CBRE Hong Kong.

For enquiries regarding the property, please contact Zac Wong, Director (T: +852 9583 4716) or Ray Chan, Senior Manager, Capital Markets, CBRE Hong Kong (T: +852 6103 5679).



Photo 1: Kowloon Commerce Centre

      

Photos 2-5 :  From Kwai Hing MTR Station Platform Exit E to the Kowloon Commerce Centre via an fully covered air-conditioned footbridge



Photos 6-9: Grand lobby, well-equipped with in-house shops and restaurants

  

Photos 10 -11 : Designed drop-of area



Photos are for reference only

Property Advertising Number: CBRE-CM-ADV4192