Hong Kong investment team disposes of residential site for HKD325 million

DTZ investment has successfully disposed of a residential site in Hunghom for HKD325 million (more than GBP27 million).

Overview

With an approximate site area of 7,305 sq ft, the site is located at the junction between San Wai Street and Gillies Avenue North in Hunghom. It consists of seven old tenement buildings which enjoy a panoramic open view. Far East Consortium, the buyer, has planned to redevelop the property with a GFA of 65,000 sq ft into a residential and commercial property. The area has great development potentials in the proposed MTR Shatin to Central Link.

What DTZ did

DTZ’s Hong Kong investment team was appointed as the disposal agent of the residential site. They provided professional services for the vendor, Soundwill Holdings, by never stopping the sourcing for potential buyers. Their determination and persistence finally secured the purchase from Far East Consortium and the deal was successfully closed.

Results

With prompt actions to the fast changing market and strong relationships with the clients, both companies are listed in the Hong Kong Stock Exchange, DTZ’s investment team successfully completed the deal within a week, thereby demonstrating both their efficiency and capability.


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