Demolition and Reconstruction of Sugar Street Commercial Building in Causeway Bay

The Buildings Department has previously approved a number of “demolition of flats” involving a number of redevelopment projects, including the Yi King Commercial Building and the Hui King Commercial Centre, 25-31 Tai Po Street, Causeway Bay, which was purchased by China Resources last year at $1.68 billion. It is estimated that it will be demolished. Rebuilt into a commercial building.

The China Resources Group purchased the two commercial buildings in June last year, with a building age of 20 to 30 years. According to the information of the Buildings Department, the developer obtained the demolition consent form for the project in May and officially commenced the redevelopment project. According to the two commercial buildings covering an area of 4,162 square feet, it is expected to be rebuilt into a Ginza-style commercial building with a total area of over 60,000 square feet.

During the same period, the bungalows at No. 81 Baijian Road, Jardine’s Lookout were also applied for demolition and reconstruction. It is estimated that the reconstructed residential floor will be approximately 5,511 square feet. According to the data, Capital Strategy (00497) purchased the estate for $532 million in October last year.