HK$22.8M "only"—and you're in the Hong Kong F&B property market, right in the heart of Central on Old Bailey Street.

I’m a big fan of Dr. Edwin Lee and his YouTube insights into Hong Kong’s shop, retail and real estate market. His almost real-time analysis of transactions is always spot-on. This latest one hits close to home—right in the core of where my SoHo liquor licensing practice has been active for years; I even worked on the liquor licensing of this specific location, so I know it well.

The property in Old Bailey Street was purchased for just HK$1.24M over 30 years ago; so, to achieve a 3.3% yield, it would rent for approximately HK$62,000 per month—a logical target.

The location is unbeatable for long-term value—it’s right opposite an exit/entry to the revitalized Central Police Station and Tai Kwun Arts and Heritage Centre, a major tourist hotspot. It’s a prime spot where food photography often seems more important than the food itself!

It’s rare to see properties like this hit the market. For those in F&B, this presented an incredible opportunity—not just to run a thriving F&B business but to own the space in which you operate. In a city where people constantly claim that property is unaffordable, this deal challenges that idea head-on.

There’s even a potential redevelopment upside—a nearly adjacent building is owned by a single landlord, meaning a block consolidation could well be on the table one day. That kind of opportunity is worth considering in the price.

Key Numbers from the video:

Address: Old Bailey Street, Central, Hong Kong (exact number to be clarified via land search to be posted)

Purchased: HK$1.24M
Held for: 36 years
Value appreciation: 17x
Target rental yield: 3.3% (HK$62,000/month)
Stable tenant

If you were in the market for a long-term F&B asset in core Hong Kong, this is the kind of deal that doesn’t come around very often, which is why someone just snapped it up.

If you need specific input regarding a strategic Hong Kong challenge or related legal matters in the HKSAR, you can always DM me and check out my profile at www.ajhalkes.com.

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