Hong Kong Parking Garage May Fetch $2.2 Billion in 2017 Sale
- First Central commercial plot on sale since ’96, Colliers says
- Lack of supply, low vacancy rate to drive interest in site
The Murray Road multi-story car park in Hong Kong.
Photographer: Justin Chin/BloombergThis article is for subscribers only.
Hong Kong’s government has announced the first sale of commercial land in the city’s central business district in more than 20 years.
The site, currently used as a multi-story car park in Murray Road, Central, is about 31,000 square feet, according to a government statement released late yesterday. The plot is valued at HK$15.8 billion to HK$17 billion ($2.2 billion), according to Vincent Cheung, Colliers International executive director of valuation and advisory for Asia.