Collective Sale of a Building at Nos. 1, 3, 5 and 7 Po Tuck Street, Sai Ying Pun sold at HK$377,000,000 under the Land (Compulsory Sale for Redevelopment) Ordinance

HONG KONG SAR - Media OutReach - 28 December 2021 - Pursuant to an order for sale made by the Lands Tribunal under the Land (Compulsory Sale for Redevelopment) Ordinance, Cushman & Wakefield Limited ("C&W") conducted a public auction of Nos. 1, 3, 5 & 7 Po Tuck Street, Sai Ying Pun today. The Property was successfully sold to Famous Concept Development Limited at HK$377,000,000.

The Property is located at the junction of Po Tuck Street and Hill Road in Sai Ying Pun and was built in 1966. It constitutes an 8-storey composite building. The ground floor units of the building are devoted for retail shops and each of the upper floors accommodate residential flats. The site area is about 3,005 sq.ft.

The Property is currently zoned as "Residential (A)" under Approved Sai Ying Pun & Sheung Wan Outline Zoning Plan No. S/H3/34.

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About Cushman & Wakefield

Cushman & Wakefield is a leading global advisory services firm that delivers exceptional value for real estate occupiers and owners, with approximately 50,000 employees in over 400 offices and 60 countries. In Greater China, a network of 22 offices serves local markets across the region, earning recognition and winning multiple awards for industry-leading performance. The firm had global revenues of US$7.8 billion in 2020 across core services including valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. To learn more, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china)