$175m-worth of residential units in SOHO district up for sale

It will be sold on an "as-is" basis.

Nine upper floor residential units at Nos. 49-49C Elgin Street in SOHO district, worth approximately $175m, has been put up for sale.

It will be sold on an "as-is" basis and subject to existing tenancies.

JLL, the marketing agent for the basket of properties, said the nine units account for 26.47% of undivided shares in Nos. 49-49C Elgin Street, a composite residential building built in 1966.

The total saleable area of the units is about 3,499 sq ft.

JLL added that the site where Nos. 49-49C Elgin Street sits has been zoned as " Residential (Group A) 12” and has the potential to be redeveloped into a composite residential building.

Executive Director of Capital Markets at JLL in Hong Kong, Raymond Fung, said he expects the basket of properties to attract interest from developers and investors, given that it is surrounded by new residential buildings and serviced apartments such as Caine Hill, Upper Central and latest development projects at Elgin Street.

"PMQ and Tai Kwun are also in proximity, providing cultural and creative lifestyle experiences," Fung added.