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Property developer Chinese Estates Holdings plans to sell its retail shops in Causeway Bay, worth an estimated HK$2 billion, according to property agents.
The company was unavailable to comment yesterday.
Property agents believe the developer is willing to sell the shops because they are non-core assets and the investment market has picked up in recent months.
They said Chinese Estates planned to sell six retail shops at 24-26 East Point Road in Causeway Bay. But the plan did not include its Laforet shopping centre.  
The interested parties could buy the shops separately or as a package.  
The six shops are close to Sogo Department Store and  World Trade Centre shopping centre, both prime sites in Causeway Bay. They are fully occupied, and the tenants include jewellers, restaurants and camera and ice-cream shops. 
The average rent  for the shops is about HK$150 per square foot. Their total floor area is about 15,000 square feet. 
The most expensive shop is a 7,000 sqft unit, leased to a jeweller, which the agents estimated could be worth about HK$750 million.
Buyers could enjoy an initial rental yield of more than 2 per cent.
The developer is strong in the retail development sector, particularly in developing shopping centres targeting younger shoppers. Its latest project is The One, the redevelopment of the Tung Ying Building in Tsim Sha Tsui, which is now open for leasing.
Shares in Chinese Estates slid 0.29 per cent to HK$13.98 yesterday.
Fully rented
Estimated value of the six tenanted retail shops for sale, in HK$: $2b



Chinese Estates selling six retail shops in Causeway Bay