Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Sign Up / Login Logout

Lost your password?
Register
Forgotten Password
Cancel

Register For This Site

A password will be e-mailed to you.

  • Capital Markets
  • Events
    • Mingtiandi 2023 Event Calendar
    • Mingtiandi APAC Residential Forum 2023
    • Mingtiandi Asia Logistics Forum 2023
    • Mingtiandi Hong Kong Focus Forum 2023
    • Mingtiandi APAC Data Centre Forum 2023
    • Mingtiandi Asia Office Strategies Forum 2023
    • Mingtiandi Singapore Focus Forum 2023
    • More Events
  • MTD TV
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

Floor in 9 Queen’s Road Central Poised to Break Hong Kong Price Record

2018/04/11 by Shawna Kwan Leave a Comment

9 Queen's Road Central

9 Queen’s Road Central is set to break the unit price record for office space in Hong Kong

In a city known for its stratospheric real estate prices, an office space smaller than a sheet of A3 paper may now cost you more than $7,600. A floor in 9 Queen’s Road Central, an office tower in Hong Kong’s Central business district, is close to being sold for HK$60,000 ($7,643) per square foot, breaking the city’s office price record, according to local media reports.

The building’s 34th floor, spanning 8,570 square feet, is reportedly in the final stage of being sold for over HK$500 million ($64 million) to local property firm Winland Group. A representative of Winland Group contacted by Mingtiandi said she had no comment on the report as she was not familiar with the matter.

The price per square foot record is currently held by the 79th floor of Central’s The Centre skyscraper, which Tai United Holdings offloaded for the equivalent of HK$55,854 per square foot last September.

Floor Appreciates 177% Over a Quarter Century

Queen's Road Central

Winland’s new office asset is in one of the busiest areas of Hong Kong’s Central

The seller Jetrade Enterprises, owned by Singaporean Lu Lianji (呂聯基), acquired the property in 1994 for HK$180 million. If the transaction is successful, the floor will have gained approximately HK$320 million (177 percent) in value.

9 Queen’s Road Central, a 39-storey tower completed in 1991, mostly consists of office space over a podium housing The Galleria shopping mall. Neighbouring the HSBC Main Building and the Landmark mall, the building is a five-minute walk away from Central metro station.

One of the major roads in Hong Kong’s business district Central, Queen’s Road Central continues to lure investors with its prime location. A commercial site at 47-51, 53 Queen’s Road Central and 1 Li Yuen Street West is reportedly close to being sold for HK$1.9 billion. The 3,076 square foot plot can provide 46,140 square feet of gross floor area upon redevelopment, implying a price per square foot of HK$41,179.

Winland Group Builds Commercial Portfolio

The news comes just two months after Hong Kong-based Winland Group snapped up the 1978-vintage W Square tower at 314-324 Hennessy Road in Wan Chai, east of Central, for HK$2.85 billion ($364 million).

Winland Group, which owns the Elizabeth House commercial complex on Gloucester Road in the city’s Causeway Bay retail district, is also involved in leasing residential properties. The group is said to own a portfolio of units in large-scale residential developments including Heng Fa Chuen on the east side of Hong Kong Island, Whampoa Garden in Hung Hom and South Horizons in the Southern district.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: Finance Tagged With: cm-hk, daily-sp, Featured, highlight, Hong Kong, Winland Group

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Mingtiandi Delivered

MTD TV

GLP, ESR and C&W on How E-Commerce Shapes China’s Warehouse Market: MTD TV
MTD TV data centre panel
Blackstone, Actis Predict Continued Growth for APAC Data Centres on MTD TV

More MTD TV Videos>>

People in the News

Charles Griffith Macquarie
Asia Real Estate People in the News 2022-02-06
Kelvin Chan CBRE
CBRE Hires Kelvin Chan as Head of Capital Markets for China
Yoshinaga Takahashi PDG
PDG Hires Mitsui’s Yoshinaga Takahashi as Managing Director of Japan
Brian Kwon Dexus
Dexus Opens Singapore Office, Hires Brian Kwon as Head of Distribution for Asia

More Industry Professionals>>

People in the News

Asia Real Estate People in the News 2022-02-06

Charles Griffith Macquarie

Finance giants lead this week’s collection of personnel moves on Mingtiandi as two of Asia Pacific’s largest financial … Read More>>

CBRE Hires Kelvin Chan as Head of Capital Markets for China

Kelvin Chan CBRE

CBRE on Friday announced the appointment of Kelvin Chan as the global property consultancy’s head of capital markets for … Read More>>

PDG Hires Mitsui’s Yoshinaga Takahashi as Managing Director of Japan

Yoshinaga Takahashi PDG

Princeton Digital Group has appointed Yoshinaga Takahashi as managing director of Japan, where he will help execute the … Read More>>

Dexus Opens Singapore Office, Hires Brian Kwon as Head of Distribution for Asia

Brian Kwon Dexus

Australian property major Dexus is extending its regional reach with the opening of a new office in Singapore and the … Read More>>

More Industry Professionals>>

Latest Stories

Charles Griffith Macquarie
Asia Real Estate People in the News 2022-02-06
David Loh Kim Kang Centurion
Singapore’s Centurion Plans $92M Sydney Student Housing Project
Todd-Olson Cushman & Wakefield
Singapore Leads APAC Data Centre Rankings with 2% Vacancy

Sponsored Features

How Data Leadership Can Prepare Real Estate Companies for Big Data and AI in 2023
OpenSpace Capture
OpenSpace Capture Provides On-the-Ground Eyes at US Government Building Projects
Malls and Megaprojects from Hong Kong to Beijing Triumph at PropertyGuru Awards Show

More Sponsored Features>>

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • 2022 Event Calendar
  • MTD TV Archives
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Mingtiandi Membership
  • Newsletter Subscription
  • Advertise
  • Terms of Use
  • Privacy
  • Join the Mingtiandi Team


© 2007-2023 China Advertising Media Ltd (Samoa). All rights reserved.

  • This field is for validation purposes and should be left unchanged.