The redevelopment project of the Ideal Plaza in Tsuen Wan was purchased for HK$310 million in 2020. It is located at 46 – 48 Pak Tin Par Street Tsuen Wan with a plan to rebuild to a top tier commercial building with 28 floors (including a 4-story basement), involving a total buildable floor area of about 88,500 square feet, of which 83,900 square feet for office use, and another 4,661 square feet is for retail.
Located in an ideal area surrounded by comprehensive facilities and infrastructures, it is within walking distance from Tsuen Wan West and Tsuen Wan MTR station. Accessing the site from the Hong Kong Island side is also a quick train journey.
More importantly, with the support from the Hong Kong government under the Industrial Building Revitalization Plan, the area has been rapidly transforming from an old urban district into a key hub consisting of renowned hotels, top tier residential and office buildings. Thus, this exciting project provides a compelling redevelopment opportunity for investors, especially as more real estate developments are expected to complete within the area in the coming years with the benefits of government policies.