Today’s News: Transaction No. 5597, Anpo Engineering acquires Sai Kung industrial building for HK$173 million (Economic Daily News). The recent surge in large-scale transactions is attributed to the accelerated disposal of properties by bank owners. An industrial building on Kangding Road in Sai Kung, formerly owned by the Tang Shing-po family, has been sold to a bank owner for HK$173 million, a 50% depreciation in eight years. The buyer is Anpo Engineering (01627), which will purchase it for its own use.
Anpo Engineering recently announced the acquisition of the industrial and warehouse building at No. 1 Kangding Road, Sai Kung, for HK$173 million. Completed in 1993, the four-story building has a total area of approximately 100,000 square feet and the ground floor is currently leased out. Based on the HK$173 million transaction price, the price per square foot is approximately HK$1,730.
The group stated that the purchase will provide self-use workspace to support business development, including establishing its own factories, storing machinery, workshops, and building materials.
Previously Approved for Over 1,000 Beds in Elderly Care Homes
Security Engineering has been actively investing recently, including acquiring a residential site in Tung Chung’s Area 106A last month for HK$1.627 billion. The land price per square foot was approximately HK$3,052, only about 1% higher than the previous bid, a narrow victory. The site is expected to accommodate nearly 1,000 residential units.
According to records, the property was previously owned by the Tang Shing-por family. They purchased several industrial buildings on the site in the past, and in 2018 acquired No. 1 Kangding Road for HK$368 million. They also hold Nos. 2, 6, 7, and 9 Kangding Road, totaling five sites.
These five sites have previously received approval from the Town Planning Board to construct five six-story buildings for elderly care homes, totaling 1,127 beds. The total site area is approximately 125,500 square feet, with a total buildable floor area of approximately 251,000 square feet.
The family subsequently put the property up for sale multiple times, but failed to attract buyers, and it eventually became the property of lenders. Now, the lenders have sold the property for HK$173 million, representing a 53% depreciation in value over eight years.
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… Updating information on shops for sale in Sheng Hui in June 2026:
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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