22-storey Manley Commercial Building for sale

Sale by public tender of office building with estimated monthly rental income of HK$1.3mn to close on 28 April.

Colliers International has been appointed by order of the owner as the sole agent to offer Manley Commercial Building on Queen’s Road Central (the Property) for sale by public tender. The tender will close at 12:00 noon, 28 April 2011 (Thursday).

The Property is located at Nos. 367-375 Queens Road Central. It is a 22-storey office building with three retail shops on the ground floor facing Queen’s Road Central with two units recently leased to the popular American-style Pacific Coffee and a specialty restaurant. Covering a site area of about 3,629 sq ft, the total gross floor area is approximately 58,269 sq ft. The property is to be sold on an “as-is” basis with existing tenancies projecting an estimated monthly rental income of HK$1,300,000, according to a Colliers International report. 

“The Property is newly refurbished with efficient layouts and enjoys long street frontage and high pedestrian flow. Sitting on a prime location at Queen’s Road Central, the rapid transformation of adjacent properties and various hotel redevelopment projects nearby underpins high rental growth potential,” said Willis Mak, Senior Director of Investment Services, Colliers International Hong Kong. “In addition, properties surrounding the premise offers a potential for site merging and acquisition which is another value-added feature giving an additional option for investors interested in this premium investment opportunity.”