The former headquarters of the Electrical and Mechanical Services Department of Causeway Bay

There is a lack of new commercial premises in Causeway Bay. The latest supply in the future will be provided by the former Headquarters of the Electrical and Mechanical Services Department of Caroline Road. It will provide 1.1 million square feet of commercial floor space with a market value of over $20 billion.

The former headquarters of the Electrical and Mechanical Services Department has been closed since 2015 and has been vacant for three years. The Government has been intending to release commercial use to increase the commercial supply of the core area.

And neighboring development of commercial buildings 1.08 million

According to the development plan announced earlier by the Administration, the former headquarters of the Electrical and Mechanical Services Department will be developed together with the two sports venues adjacent to it. It will cover an area of ​​290聽000 square feet and will be rezoned into “Commercial” and “Government, Institution or Community”. With land, the total floor area is 1.83 million square feet.

Part of the commercial land, the building floor area will reach 1.076 million square feet, equivalent to 1.5 Hysan Square (the total floor area of ​​710,000 square feet), which will become the largest commercial land supply in Causeway Bay for more than 20 years. The land market valuation ranges from 21.53 billion to 26.91 billion yuan. The floor price per square foot is 20,000 to 25,000 yuan, which has the opportunity to become a new generation of commercial land.

In addition to the commercial development, the Caroline Hill Road Project will also retain a portion of the site for “Government, Institution or Community” for the purpose of building the District Court Complex and re-provisioning the Wan Chai District Court and the land of Kings Road, Kowloon. Facilities such as the Tribunal, involving 753,000 square feet of floor space.

According to the information, the demolition work of the former headquarters of the Electrical and Mechanical Services Department is expected to be completed in the fourth quarter of next year. It will be expected to launch a market tender.