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Sign in Sign up for a FREE subscriptionLofter Group, BentallGreenOak, Schroders acquire redevelopment site in Hong Kong
Hong Kong property developer Lofter Group has partnered with BentallGreenOak and Schroders Capital to acquire a majority portion of Nos. 31-37 Hankow Road in core Tsim Sha Tsui, an urban area in Hong Kong, for grade-A commercial redevelopment.
The redevelopment project has a total site area of 9,650 square feet and features frontage of more than 33 meters (108 feet) facing Hankow Road with high retail value. The site will be redeveloped into a best-in-class, grade-A commercial tower incorporating various cutting-edge technology and green, sustainable design features. The proposed development will be a unique landmark building with a view of the Victoria Harbour.
The total acquisition price was more than HKD 1.5 billion ($191 million).
“We are pleased to be partnering with BentallGreenOak and Schroders Capital on this strategic real estate acquisition in one of the most core commercial areas in Hong Kong,” said Carol Chow, founder and chairperson of LOFTER.
