Knight Frank has been appointed as the sole agent for the sale of No. 452, Nos. 456-464 Prince Edward Road West & No. 1 Tak Ku Ling Road, Kowloon City (“the Property”), through private tender. The Property has a high redevelopment potential, and the market valuation is HK$400,000,000. Tender closing date is scheduled on 15 July 2022 (Friday) 12 noon.
Completed in 1973, No. 452 Prince Edward Road West is a 6-storey commercial building with a site area of 1,403 sq. ft. (approx.) while Nos. 456-464 Prince Edward Road West & No. 1 Tak Ku Ling Road is a 5-storey commercial building completed in 1965 with a site area of 5,035 sq. ft. (approx.). Both buildings are zoned as “Residential (Group A)2” under Outline Zoning Plan (OZP).
Situated near the junction between Prince Edward Road West and South Wall Road, the Property is in one of the most popular commercial / residential districts in Kowloon Peninsula. The locality is dominant by residential buildings, shopping arcades, restaurants, hotels and schools etc. In the most popular Primary One School Net 41, where a number of renowned schools are located in the area. It is highly accessible by most of the public transport facilities, such as minibus, bus and taxi. Exit B2 of Sung Wong Toi MTR Station is only a step away.
Besides, URA recently announced a mega redevelopment project near Nga Tsin Wai Road and Carpenter Road, signaling immense potential for Kowloon City.
This is a rare opportunity for investors, end-users or developers to acquire one of the most sought-after residential/commercial redevelopment opportunities in Kowloon Peninsula.