CBRE appointed as sole agent for industrial property portfolio sale

Industrial assets are highly sought by investors amidst the sector's strong performance.

Commercial real estate firm CBRE has been appointed as the sole agent for the sale of a portfolio of industrial properties at Sunking Factory Buildings and Sea View Estate.

The properties for sale in Sunking Factory Building have a total gross floor area of approximately 21,384 sq. ft. and are set to be sold partially with existing tenancies and vacant possessions. The portfolio in the building accounts for 7.76% undivided shares of the entire building.

Meanwhile, the properties for sale in Sea View Estate have a gross floor area of approximately 7,100 sq. ft. and are also expected to be sold with existing tenancies.

“Industrial assets have been highly sought after by investors recently, driven by the sector’s strong performance throughout the pandemic. We expect industrial transaction volume and capital values to increase over 2021, supported by the government’s recent introduction of the Pilot Scheme for Charging Land Premium at Standard Rates on Lease Modifications for Redevelopment of Industrial Buildings,” CBRE Hong Kong director of capital markets Frederick Lai said.