Studio in Popular Development Selling Below Bank Valuation

This studio apartment is on a high floor of a popular residential development in an up-and-coming district in Wanchai. Situated on high level, occupant enjoys an open views of the cosmopolitan and partial harbour view. Though small in size, the extra high ceiling, clever kitchen arrangement and the unusual dual balconies over-compensate for the lack of square footage. A little over two years old, the apartment comes with deluxe fittings and appliances provided by the developer. Due to the convenient location, comprehensive facilities, quality, this and similar apartments in the complex are extremely popular among professionals. Since completion, most apartments are snapped up and re-let by keen renters within days they become available. The apartment is currently leased. However, it can also be sold with vacant possession if required.

Inner city urban living at its best, highly recommended for end users as starter flat and investors who long for steady return and long term appreciation.

The Avenue is an Urban Renewal Authority project, jointly developed by leading developers Sino Land and Hopewell Holdings. Before the land resumption by Urban Renewal Authority, the site comprised old tenement blocks on Lee Tung Street, which was better known as the Wedding Card Street, due to the high concentration of printing shops specialized in printing of Chinese wedding cards.

Completed in November 2015, the Avenue comprises 4 modern skyscrapers totally 785,000 sq. ft. providing 1,415 residential studios, and one to three-bedroom apartments. Aiming to keep the heritage, the project has devoted a large portion of the site for commercial use with a theme catering for the goods and services for wedding. The 100-meter pedestrian only walkway connecting all the shops and the residential towers is called Lee Tung Avenue, honoring old Lee Tung Street. The impressive 100,000 sq. ft. shopping arcade includes Ground Floor shops and shopping arcades distributed on Basement, Ground Floor and First Floor, all told 70 shops ranging from 100 sq. ft. to 10,000 sq. ft. in size. Besides, the developers have also kept three Grade 3 Listed Historical Building as their contribution to the preservation of the heritage.

Catering for young executives with comfort and modern living in mind, apartments have been designed with Western minimalist styles and finished to very high specifications. Residents share the use of the club house, swimming pool, gym, children playground and sitting out area.

Wanchai is a vast and densely populated area covering east of Admiralty, west of Canal Road before CWB shopping district. Wanchai waterfront is a reclamation area with prime commercial buildings along Harbour Road include Central Plaza, Sun Hung Kai Centre, Harbour Centre and Great Eagle Centre, government buildings, and five star hotels. Gloucester Road used to be the promenade along the harbor. Due to the view and superior location, commercial developments sprang up over the years to form an impressive front of office buildings along Gloucester Road. There are a mixture of residential and commercial buildings in the rest of Wanchai areas.

During the past decade or so, a number of impressive projects along Queen’s Road East initiated by Urban Renewal Authority were completed. These projects, including The Zenith, J Residence and The Avenue, together with the concerted effort by private developers were responsible for the rejuvenation of this area into a vibrant and upscale residential and commercial district. The displacement of older establishment by trendy shops and restaurants adds to the attractiveness and flair of the area. Gentrification continues as upcoming projects such as Mega Tower Hotel by Hopewell and other residential developments will continue to reshape this quarter into an attractive area to live and play.

The Pawn

Tram Station

Southorn Playground

Wan Chai MTR

Lee Tung Avenue

Hopewell Centre

Pacific Place