NewNathan Road commercial site for sale by tender offers 'rare opportunity'

A commercial site in Mong Kok worth up to HK$620 million is offered for sale by public tender, according to Savills Hong Kong, the sole agent for the sale.

The tender will close on August 28.

The site at 575-575A Nathan Road, which has been cleared for development, covers 2,130 square feet.

The last time a similar site sold on Nathan Road was in early 2013, said Jonathan Chau, a director of investment at Savills.

"It's a rare opportunity to find something [for development], especially in that stretch of Nathan Road," Chau said.

Nathan Road is home to two prime shopping areas: Tsim Sha Tsui and the neighbourhood stretching from Dundas Street to Argyle Street, which is close to the site up for sale.