Press Release
CBRE Appointed As Sole Agent for the Sale of 17/F & 18/F of 1 Lyndhurst Tower, 1 Lyndhurst Street, Central
February 19, 2024
Media Contact
Christine Tai
Associate Director, Marketing & Communications, Hong Kong
CBRE has been appointed as the sole agent for the sale of two entire floors of premium office in Central. The property for sale is the two entire floors, including17/F & 18/F, of 1 Lyndhurst Tower, 1 Lyndhurst Street, Central. Each floor boasts a gross floor area of approx. 4,000 sq. ft. and the property for sale covers a gross floor area of approx. 8,010 sq. ft. The property will be sold on an “as it” basis, with part of it to be sold with tenancy agreement and other part being vacant.
Completed in 1993 and recently renovated in 2010, 1 Lyndhurst Tower is located at No.1 Lyndhurst Street. With approx. 2.7m of ceiling height for each floor, the property offers a spectacular view. The sleek glass curtain wall is eye-catching and enhances the visual appeal of the building. The property is highly flexible for investment purposes as the buyer can keep the existing tenancy for rental income and take the remaining space for self-use.
“In recent times, investors prefer properties that are suitable for self-use and we also see that relevant transactions in the market have picked up. For example, in August 2023, Chinese enterprise DL Holdings paid almost HK$300 million for the top five floors and naming rights for 92 Wellington (equivalent to approx. HK$25,300 psf); a local institute bought the entire 14/F of Wing On House for HK$347 million (equivalent to approx. HK$21,800 psf). As compared to the preceding transaction of an entire floor of that building, the unit price was 19% lower, making the price of offices in Central core districts attractive. Office buildings in Central are always popular among end-users and investors. Given its convenient location of 1 Lyndhurst Tower and the amenities in the neighbourhood, the subject property has a competitive advantage and since the asking price is close to the market value, we expect this will draw end users’ attention,” said Zac Wong, Director, Investment Property & Private Office, Capital Markets, CBRE Hong Kong.
For enquiries regarding the property, please contact Zac Wong, Director (T: +852 9583 4716), or Churchill Keung, Assistant Manager (T: +852 6679 2298), Investment Property & Private Office, Capital Markets, CBRE Hong Kong.
Photo 1: 1 Lyndhurst Tower, 1 Lyndhurst Street, Central
Property Advertising Number: CBRE-CMHK-ADV4649
Photos are for reference only
Completed in 1993 and recently renovated in 2010, 1 Lyndhurst Tower is located at No.1 Lyndhurst Street. With approx. 2.7m of ceiling height for each floor, the property offers a spectacular view. The sleek glass curtain wall is eye-catching and enhances the visual appeal of the building. The property is highly flexible for investment purposes as the buyer can keep the existing tenancy for rental income and take the remaining space for self-use.
“In recent times, investors prefer properties that are suitable for self-use and we also see that relevant transactions in the market have picked up. For example, in August 2023, Chinese enterprise DL Holdings paid almost HK$300 million for the top five floors and naming rights for 92 Wellington (equivalent to approx. HK$25,300 psf); a local institute bought the entire 14/F of Wing On House for HK$347 million (equivalent to approx. HK$21,800 psf). As compared to the preceding transaction of an entire floor of that building, the unit price was 19% lower, making the price of offices in Central core districts attractive. Office buildings in Central are always popular among end-users and investors. Given its convenient location of 1 Lyndhurst Tower and the amenities in the neighbourhood, the subject property has a competitive advantage and since the asking price is close to the market value, we expect this will draw end users’ attention,” said Zac Wong, Director, Investment Property & Private Office, Capital Markets, CBRE Hong Kong.
For enquiries regarding the property, please contact Zac Wong, Director (T: +852 9583 4716), or Churchill Keung, Assistant Manager (T: +852 6679 2298), Investment Property & Private Office, Capital Markets, CBRE Hong Kong.
Photo 1: 1 Lyndhurst Tower, 1 Lyndhurst Street, Central
Property Advertising Number: CBRE-CMHK-ADV4649
Photos are for reference only
About CBRE Group, Inc
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services (based on 2025 revenue). The company has more than 155,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, data center solutions); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services (based on 2025 revenue). The company has more than 155,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, data center solutions); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.