Rare boutique shopping arcade in core West Kowloon for sale
With tremendous growth potential leveraging on the accelerating pace of redevelopment in its vicinity
HONG KONG, 17 October 2022 – JLL has been appointed by Twin City Holdings Limited as the joint sole agent for the sale by tender of “The Vertex Arcade”, a shopping arcade along with naming rights, 19 commercial car park spaces, at The Vertex, 29 Tonkin Street in Cheung Sha Wan. The tender will close at 12:00 noon on 18th November 2022 (Friday).
Completed in May 2022, the brand-new shopping arcade of The Vertex comprises G/F, 1/F and 2/F, with a gross area of approximately 45,000 sq ft. Designed by renowned LWK+Partners, the three-storey mall with chic building design and façade has easy excess on G/F from all three surrounding streets, bespoke interior design with flexible shop layouts, and an iconic 10-metre-high atrium through 1/F and 2/F.
Located at the core area of West Kowloon, the property offers convenient transport links with Cheung Sha Wan MTR Station within one-minute’s walk. It is also adjacent to Lai Chi Kok Industrial/ Commercial CBD, where a host of existing landmark commercial buildings such as D2 Place, 888 Lai Chi Kok Road and the upcoming grade-A offices such as Portas and Wing Hong Street Project are located, providing high spending power with ample business footfall.
Wilson Chan, Managing Director of The Vertex’s project manager, said: "The Vertex Arcade occupies a prominent corner site at the junction of three main streets in Cheung Sha Wan and provides a well-designed public space that stands out from the other shopping malls nearby. With a 10-metre-high atrium which floods the space with natural light, it could become a new landmark in the area. The project also has a superior location and enjoys the future development advantages of West Kowloon, offering great investment potential for investors."
Oscar Chan, Head of Capital Markets at JLL in Hong Kong, said: "The shopping arcade is one of the largest shopping malls in the area with around 30 shops sized approximately between 300 and 1,600 sq ft (net area) with well-planned circulation, while most of other retail podiums in the district range between 10,000 to 20,000 sq ft only. It also has the flexibility for the buyer to lease it to a single anchor tenant or for self-use. Located in core Cheung Sha Wan which is one of the most densely populated areas in Hong Kong, , the project is also situated within the vicinity of over 30 primary and secondary schools, , over 13 completed residential redevelopment projects by the URA over the past decade and at least 10 more projects in the pipeline for redevelopment, hence it is able and will continue to draw on a new catchment of affluent young families on top of the existing dense residential developments."
Please contact Mr. Chan at 5348-0312 for more information about the property.
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