Office units in COSCO Tower and Kowloon Commerce Centre up for sale

Units 1105-1106 have GFA of approximately 2,818 sq ft.

According to a release, Colliers International has been appointed as the sole agent to offer two properties for sale, including Units 1105-1106 of COSCO Tower in Sheung Wan; and the whole floor of 27/F, Kowloon Commerce Centre Tower B in Kwai Chung.

Units 1105-1106, 11/F of COSCO Tower COSCO Tower, a 53-storey building located at Grand Millennium Plaza at No. 183 Queen’s Road Central, sits in the commercial hub of Sheung Wan. It was called the High Block of Grand Millennium Plaza, developed by New World Development and Urban Renewal Authority.

The building was renamed as COSCO Tower after COSCO purchased various floors of office spaces in the building and received COSCO Tower is the only Grade A office building available for strata-title sale in the district, with the exception of Shun Tak Centre. COSCO Tower, which is relatively new and comprises a modern building design, enjoys high popularity among occupiers.

The high-floor zone is held by COSCO for self occupation and for lease; while Gale Well Limited, the renowned property investment company, owns various floors of the building for long term leasing.

As most of the other strata-title owners of the building hold whole-floor office spaces, small-sized individual units are rarely available for sale in the market.Comprising a gross floor area of approximately 2,818 sq ft, units 1105-1106 are to be sold on an “as-is” 

Peter Ho, Director, Strata Title Sales of Investment Services at Colliers International Hong Kong, says that the property which comes with seaview together with the efficient layouts and facing the lift is favoured by occupiers.

Besides, the property also serves as a valuable investment opportunity, with an expected yield of up to over 3% per annum.