Recently, the market for commercial properties has become more active, with investors eyeing high-return locations. A ground-floor shop on Jaffe Road in Causeway Bay, owned by the long-established family business Chow Sing Kee, changed hands for approximately HK$88 million.
The property is located at Shops 2, 2A, and 3, G/F, Mei Han Building, 501-515 Jaffe Road, Causeway Bay, with a gross floor area of approximately 10,000 square feet. It was put on the market last month with an asking price of HK$150 million. Market sources indicate that the property received active inquiries from potential buyers. Although the offers did not meet the owner’s expectations, due to the owner’s strong desire to sell, the property was ultimately sold for HK$88 million after several price reductions, averaging HK$8,800 per square foot. This property is wholly leased by Wellcome Supermarket, a long-term tenant for over 36 years since 1990. The shop is large, boasting a 30-foot storefront, offering significant exposure and brand display value.
Average price: HK$8,800 per square foot
A two-minute walk from the property is Causeway Bay MTR station, near landmarks such as SOGO Department Store and One Causeway Bay. The original owner, Chow Sing Kee Properties, purchased the property in July 2004 for HK$59 million, holding it for 22 years and realizing a profit of HK$29 million, representing a 49% appreciation.
Holding the property for 22 years, the value appreciated by 49%.
Chow Sing Kee was founded by Chow Sing-mei. Initially involved in construction, the company also ventured into property investment, acquiring numerous shops and commercial buildings across prime secondary streets and residential areas. With a large family business and numerous properties, Chow Sing-mei, who had 10 children, passed away in 2005. Her son, Chow Ping-kuen, became the head of the business. He acquired a large number of shops and old buildings in Tai Hang, owning a total of 37 properties, making him a well-known major landlord in the area, hence the nickname “King of Tai Hang Shops.”
In 2021, Chow Sing Kee sold the Chow Sing Kee Commercial Building at 25 Tong Mei Road, Tai Kok Tsui, for HK$153 million, at a price of HK$7,359 per square foot. Chow Sing-mei had purchased the old building years earlier and rebuilt it into the 15-story Chow Sing Kee Commercial Building in 1993, which had been used for rental income. The new buyer was Fort Demand Limited, whose director is Wu Tianwei, executive director of Chun Yip Group, the developer of Kam Sheung Garden.
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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) Shop A, Ocean City Mansion, Electric Road, Tin Hau – New Seven Seas Project
HKD 33 million, now HKD 24 million, 4.6% return
(3) Ground Floor & Mezzanine, 20-24 Ma Sha Street, Sheung Wan – Reveri
HKD 38 million, now HKD 33.9 million, 4.6% return
(4) Ground Floor & Mezzanine, 108 Fa Yuen Street, Mong Kok – Yin Jin Dim Sum
HKD 33 million, now HKD 22.9 million 4.6% return
(5) 16 Dyeing Fong Street, Mong Kok – The Madhouse
28 million HKD Now for sale 20.8 million HKD 4.6% return
(6) Shop 3 & mezzanine, Kam Fai Road, Yuen Long – Egg Waffle Snacks
11 million HKD Now for sale 9.1 million HKD 4.6% return
Other prime shops for sale:
(7) Shop D, G/F, Po Ming Building, 96-106 Percival Street, Causeway Bay
38 million HKD Now for sale 35 million HKD
(8) Shop G/F & stairwell, 153 Sai Yee Street, Mong Kok
45 million HKD Now for sale 35 million HKD
(9) Shop 4, B/F, Kai Fung Building, 10 Soi Hang Street, Sheung Wan
21 million HKD Now for sale 17 million HKD
(10) Shop C, G/F, 111-121 Sai Yee Street, Mong Kok
28 million HKD For Sale: HKD 22 million
(11) Shop M, Yun Tung House, 65-75 Luther Road, Tsuen Wan
HKD 24 million
For Sale: HKD 20.4 million
Valid until June 30, 2026
Detailed plans and photos:
Contact me (Lee Kin 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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