Residential redevelopment site in Kowloon City for sale (Sept 2, 2009)

HONG KONG: Colliers International is offering the residential and commercial site at Nos 396-400 Prince Edward Road West,By E Jacqui Chan of theedgeproperty.com for sale by public tender after being appointed the sole agent by the owner.

The site, measuring 3,320 sq ft with an approved gross floor area of about 29,878 sq ft, was previously occupied by Tai Tung Hotel. The existing property is being demolished. Approval has been obtained to build a 24-storey residential property with retail facilities on the ground and first floors.

Aside from a vantage view of Victoria Harbour, the property also offers access to public transportation with its proximity to the upcoming Kai Tak Cruise Terminal Development and Kwa Wan MTR station. In addition, the property falls within the Primary One Admission (POA) School Net 41, which consists of a network of famous schools and a concentration of well-known restaurants. These factors will help to increase the commercial and residential appeal of the development. The property is for sale with vacant possession and the tender closing date is set at noon, Sept 9, 2009.