Three-storey shopping mall Nob Hill Square has come on the market, with Colliers International (Hong Kong) and Savills Hong Kong as exclusive agents.

Jointly developed by Cheung Kong and Far East in 2002, Nob Hill Square is on the former site of Lai Chi Kok Amusement Park, acting as a public thoroughfare between Mei Foo Sun Chuen residential development and several other housing estates.

Savills senior director of investment Jonathan Chau describes the property as “very rare” and reasonably priced. He sees high potential to increase return through value adding via a re-configuration of the tenant mix.

With more than 100,000sqft of retail space, the mall is strategically positioned as a one-stop destination offering lifestyle, F&B, entertainment, education and beauty, says Colliers International Hong Kong executive director of capital markets and investment services Reeves Yan.

The property is accessible by public transport and is several minutes’ walk from Mei Foo MTR station and West Rail Line station. A bus terminal on the ground floor of the property provides access to transportation between Kowloon and Hong Kong Island.

The property includes 43 car parking spaces and 10 loading/unloading bays.