International real estate firm Savills has been appointed as the sole agent for the sale of Nos.20 – 22 Queen’s Road West, Sheung Wan ("The Property"). The Property has a total gross area of approximately 6,920 sq ft and a site area of approximately 1,260 sq ft. It is offered for sale on an “as-is” basis with existing tenancies.
The Property comprises a 6-storey composite building, with a ground-floor retail shop, first-floor office space, and residential units on the second to fifth floors. The ground-floor shop and first-floor office each provide a gross area of approximately 1,260 sq ft, while the domestic floors offer a saleable area of approximately 864 sq ft each. The Property also features an independent staircase and rooftop.
The ground-floor retail unit is currently leased to a well-known food and beverage operator, while the residential portion is fully leased to a serviced apartment operator, providing stable and recurring rental income.
Strategically located in a well-established commercial and residential district on Hong Kong Island, the Property is situated between Sheung Wan and Sai Ying Pun MTR stations, both within a 6-minute walk. It is also in close proximity to Central and approximately 15 minutes' drive from The University of Hong Kong, benefiting from accommodation demand from both professionals and students. The area is supported by comprehensive transport links and a full range of retail, dining and lifestyle amenities.
Mr. Jacky Fung, Senior Associate Director of Investment at Savills Hong Kong said, “The Property has an indicative price of approximately HKD 72 million. Both the ground-floor retail unit and residential portion are fully leased, generating a total monthly rental income of approximately HKD 270,000 and providing immediate and stable cash flow for investors. A key highlight of the Property is its rare 999-year lease, a highly sought-after asset class with strong value preservation and long-term investment appeal.
In addition, the residential floors from the 2nd to 5th floors are leased to a professional serviced apartment operator until 2033. Supported by sustained accommodation demand from the HKU and Central business district, coupled with the Property’s prime Hong Kong Island location and limited supply, we expect strong interest from both investors and income-focused purchasers.”