Sold item #5587, recently registered for HK$28 million, rated 5/5. Shop No. 30, G/F, 692-696 Shanghai Street/30-32 Bute Street, Mong Kok. Gross floor area approximately 1000 sq ft, saleable area approximately 700 sq ft, entrance width approximately 15 sq ft, depth approximately 50 sq ft. The tenant is Tai Wah Wood Industries (with branches on Shanghai Street and Lockhart Road). Building age 62 years.
The original owner purchased in May 2005 for HK$16.8 million, holding for 21 years, representing a 66.7% increase. The latest lease signing date is May 11, 2026.
Rental Analysis: Based on the Rating and Valuation Department’s average shop rental yield of 3.9%, this shop has a monthly rental value of HK$91,000.
This shop faces Bute Street, with convenient parking in front, but the foot traffic is relatively quiet. The current tenant, Tai Wah Wood Industry, was founded in 1975. They opened a shop in Mong Kok in 2005 and a second branch on Lockhart Road in 2008. The original owner (Glad Forest International Ltd.) purchased this Shanghai Street shop in 2005 for HK$16.8 million, though it’s uncertain whether it was for their own use at the time.
Shop 658 on the same section of Shanghai Street was briefly sold for HK$32.5 million in May 2026, a rise of less than half (11%). It’s now vacant, and the original owner bought it for HK$29.38 million, which is quite unusual. The shop has a ground floor area of 1000 sq ft and a mezzanine of 1000 sq ft.
HK$28 million is a great price!
Rating criteria: 5 points for market value, 10 points for excellent value, 1 point for caution. A high-scoring shop needs P-R-O (Prospect, Rental Value, Options, and a good price!) Note: The rating only provides a superficial impression. Amenities such as utilities (fire, water, electricity, gas), lease details, ownership integrity, and potential future construction significantly impact the actual value of the shop. The rating is for general reference only.
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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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