Sold for the 5628th time, rumored to have been completed through a tender, the Wu Zhenke family is putting their Central Parkside shops up for sale, valued at over HK$200 million.
A long-established family business is putting its prime real estate up for sale. A basket of shops at 29 Parkside Street, Central, owned by the son of Wu Zhenke, founder of the Zhenke Group, has been put up for public tender by Knight Frank and Cushman & Wakefield. The market valuation is estimated at over HK$200 million. The tender closing date is 12:00 noon on Wednesday, June 17, 2026.
The property consists of shops D, E, F, and G on the ground floor and units A, B, C, and D on the first floor of 29 Parkside Street, Central. It is approximately a 10-minute walk from Queen’s Road Central and connected to Hollywood Road, Tai Kwun, and PMQ. The total saleable area of the basket of properties is 12,600 square feet, with a market valuation estimated at over HK$200 million. The combined ownership of the properties exceeds 20% of the building’s total ownership.
Knight Frank’s Executive Director and Head of Private Clients for Greater China, Mak Tsz-hing, stated that the current tenants on the ground floor include a high-end French restaurant and a renowned British bakery, while the first floor houses a wine tasting club. Cushman & Wakefield’s Director of Capital Markets, Yang Li-hung, noted that the shops currently being offered for sale in the Central Building boast a total width of 65 feet and an eye-catching, open facade. Furthermore, the combined ownership of these shops exceeds 20%, providing a significant strategic incentive for investors interested in acquiring the entire building for redevelopment.
The owners are related to the Chen Ke Group; there have been numerous cases of asset reduction in recent years.
Data shows that the owners of the aforementioned portfolio of properties are registered under the name Go-On-Well Company Limited, whose director is Eric Wu, son of Wu Chen-ke, the founder of the long-established Hong Kong family-owned Chen Ke Group (0859).
Multiple property purchases by the original owner:
(1) Shop E, Ground Floor, 29 Peckfield Street (with platform)
Purchase price: HKD 368 million, July 2019
(2) Shop D, Ground Floor, 29 Peckfield Street
Purchase price: HKD 14.4 million, December 2024
(3) Shop F, Ground Floor, 29 Peckfield Street
Purchase price: HKD 2.7 million, January 2002
(4) Shop G, Ground Floor, 29 Peckfield Street
Purchase price: HKD 75 million, July 2019
(5) Units C & D, 1st Floor, 29 Peckfield Street
Purchase price: HKD 6.2 million, October 2004
Total HKD 469.676 million.
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From 2025 to the first half of 2026, The Grand Hong Kong has successfully sold 24 street-level shops in Hong Kong, totaling HK$396 million. The following 8 properties are now available for sale at reduced prices until July 2026:
The following properties offer high returns: up to 5%:
(1) Shops 1, 10, 11, 12 & 13, Princess Building, King’s Road, Fortress Hill – Miss Ice Room
Original Price: HKD 65 million Now Available: HKD 42 million 4.9% Return
(2) Ground Floor & Mezzanine, 20-24 Ma Sha Street, Sheung Wan – Reveri
Original Price: HKD 38 million Now Available: HKD 33.9 million 4.6% Return
(3) Ground Floor & Mezzanine, 108 Fa Yuen Street, Mong Kok – Yin Jin Dim Sum
Original Price: HKD 33 million Now Available: HKD 22.9 million 4.6% Return
(4) The Madhouse, 16 Dyeing Fong Street, Mong Kok
Original Price: HKD 28 million Now Available: HKD 20.8 million 4.6% return
(5) Shop No. 3 and mezzanine of Kam Fai Road, Yuen Long – Egg Waffle Snacks
HKD 11 million, now for sale HKD 9.1 million, 4.6% return
Other prime shops for sale:
(6) Shop No. 4, B/F, Kai Fung Building, 10 So Hang Street, Sheung Wan
HKD 21 million, now for sale HKD 17 million
(7) Shop No. C, G/F, 111-121 Sai Yee Street, Mong Kok
HKD 28 million, now for sale HKD 22 million
(8) Shop M, Yun Tung Building, 65-75 Luther Road, Tsuen Wan
HKD 24 million Listing for sale at HK$20.4 million
Valid until July 30, 2026
Detailed listing plans and photos:
Contact me (Edwin Lee 90361143) or my colleagues:
Desmond Chan 9660 2253 / Vivian Lee 9311 9274 / Marc Kwok 6092 6444 (Head)
www.bwfund.com
Dr. Edwin Lee, Founder of BW Fund. Since the fund’s inception in 2016, he has purchased 133 street-front shops in Hong Kong, totaling HK$2.224 billion. His life goal is to buy 1,000 street-front shops in Hong Kong.
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