Five industrial buildings at Nos. 1, 2, 6, 7 and 9, Hong Ting Road, Sai Kung, owned by the “Shop King” Tang Shing-bor family, have recently been put up for sale again after failing to sell since first being on the market in September 2023. The properties will be partially vacant, partially tied to existing leases, and sold “as is”.
The current market estimate is that the property valuation reaches HK$950 million, which is a HK$450 million less than the asking price of HK$1.4 billion in September 2023, a 32.14% decrease.
The five properties consist of five independent lots with five factory buildings. The total site area is approximately 129,526 square feet. The total construction area of the existing factory buildings is approximately 383,579 square feet. The area of each building ranges from 53,158 to 100,583 square feet. sq. ft.
It is worth noting that the Town Planning Board approved a redevelopment proposals into five residential care homes and related facilities providing accommodation for the elderly on 26 November 2021,
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