Strong demand for CLSA-Roxy's HK retail floors
Tie-up sells 2 more floors at higher prices, in addition to an initial 10 floors
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Kalpana Rashiwala
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A JOINT VENTURE between Singapore's Roxy-Pacific Holdings and CLSA Capital Partners has found strong demand for strata retail floor sales in a building in Hong Kong's prime Causeway Bay area.
Initially the vendors had planned to release only 10 of the total 21 floors they own in the 999-year leasehold building, 8 Russell Street. The "vertical retail floors" are being sold with one strata title per floor - of 4,718 sq ft gross floor area.
Some 120 cheques were received when submissions of interest closed last Friday for the initial 10 floors, which are on Levels 10-20 (there is no 14th floor in the building as the number is considered inauspicious in Cantonese). Savills (Hong Kong) is the coordinating agent for the sale.
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