Golden Digital retail complex put on market
The three-storey Golden Digital retail complex in Sham Shui Po has been put up for sale with an asking price of HK$900 million (US$115 million), about $25,000 a square foot, agents say.
At the intersection of Yen Chow and Fuk Wing Streets, the property could generate monthly rental income of up to $2.4 million after rebranding and tenant restructuring, according to Colliers International associate director of capital markets and investment services Alfred Wong Wing-chun.
“The area is a hot spot for computers, electronics, accessories and food and beverage,” says Wong. “There is growth potential among young and high-spending customers with about 4000 flats just completed within a kilometre of the mall.”
Also nearby is the campus of Savannah College of Art and Design, a US-based arts school in the former magistrates’ court building and the Golden Computer Centre.
Currently, the mall’s basement is occupied by supermarket chain Wellcome, while the ground floor has restaurants and retail shops including convenience store Watsons. The upper floor houses a Chinese hotpot restaurant.
“Rental incomes are stable and easily predictable,” says Wong.
*Photo courtesy: Ara-Asia.com.