Today’s News: Transaction number 5596, rumored price 50 million, rated 6.5, the most desirable tourist spot on Nathan Road!
(Sing Tao Daily) “Grandpa” Wu Zhenke sells Tsim Sha Tsui shop for nearly 50 million, earning rental income and recouping investment after 36 years.
A seasoned investor known as “Grandpa” in the real estate industry, Wu Zhenke (inset), and related parties recently sold a shop in a prime location on Nathan Road in Tsim Sha Tsui for nearly 50 million. The Wu family has been continuously selling properties in recent years, including entire commercial buildings in Tin Hau and Tsim Sha Tsui, realizing over 1.5 billion HKD.
Priced at nearly HK$50,000 per square foot, yielding a 4.3% return.
The aforementioned shop for sale is Shop A2, Ground Floor, Leung Shih Building, 27-33 Nathan Road. With a gross floor area of approximately 1,000 square feet, the price per square foot is close to HK$50,000. It is currently leased by Eu Yan Tong Pharmacy for approximately HK$180,000 per month, with the lease expiring in February 2028. The new buyer is expected to receive a return of 4.32%.
Wu Zhenke purchased this prime location shop in 1990 for HK$30 million. After 36 years of stable rental income, the property has long since recouped its investment. Now, he is cashing out HK$50 million in one go, demonstrating his seasoned foresight in “trading time for asset appreciation.”
The shop’s entrance is approximately 12 feet wide and 45 feet deep, with a usable area of approximately 600 square feet and a gross floor area of approximately 1,000 square feet.
Based on Longfeng’s rental income as a percentage of turnover (approximately 10-14%), this shop would need to generate around 1.5 million NTD in monthly turnover, or 50,000 NTD daily, to be profitable. Assuming 12 hours of operation per day, that’s 4,200 NTD per hour.
Rating Criteria: 5 points for market value, 10 points for excellent value, 1 point for caution. High-scoring shops require P-R-O (Prospect, Rental Value, Options, and Price). Note: The rating is only a superficial assessment. The actual value of the shop is greatly influenced by factors such as utilities (fire, water, electricity, gas), lease details, ownership integrity, and potential additions. The rating is for general reference only.
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Shops for sale in Grandview, June 2026, updated information:
The following properties offer high returns:
(1) Shops 1, 10, 11, 12 & 13, Princess Building, King’s Road, Fortress Hill – Miss Ice Room
HKD 65 million, now HKD 42.5 million, 4.8% return
(2) Ground floor & mezzanine, 20-24 Ma Sha Street, Sheung Wan – Reveri
HKD 38 million, now HKD 33.9 million, 4.6% return
(3) Ground floor & mezzanine, 108 Fa Yuen Street, Mong Kok – Yin Jin Dim Sum
HKD 33 million, now HKD 22.9 million, 4.6% return
(4) 16 Dyeing Fong Street, Mong Kok – The Madhouse
HKD 28 million, now 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 D, G/F, Po Ming Building, 96-106 Percival Street, Causeway Bay
HKD 38 million Now for sale HKD 35 million
(7) Shop G/F and stairwell of 153 Sai Yee Street, Mong Kok
HKD 45 million Now for sale HKD 35 million
(8) Shop B/F 4, Kai Fung Building, 10 Soi Hang Street, Sheung Wan
HKD 21 million Now for sale HKD 17 million
(9) Shop C, G/F, 111-121 Sai Yee Street, Mong Kok
HKD 28 million Now for sale HKD 22 million
(10) Shop M, Yun Tung Building, 65-75 Luther Road, Tsuen Wan
HKD 24 million Listing for sale at 20.4 million.
Valid until June 30, 2026.
Detailed listing plan and photos:
Contact me (Lee Gen Hing 90361143) or my colleagues:
Desmond Chan 9660 2253 / Vivian Lee 9311 9274 / Marc Kwok 6092 6444 (Head)
www.bwfund.com
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