Henderson Land Development (0012) has acquired a group of aging buildings in Hung Hom through a compulsory sale at a reserve price of HK$580 million on Thursday, marking the first such transaction after the compulsory sale application thresholds were lowered in 2024.
The properties, located at 18-20A and 22-24 Whampoa Street, as well as 88-90A Baker Street, comprise two 69-year-old, eight-story buildings that cover 8,075 square feet.
The upcoming project on the site is projected to be completed as early as 2031.
