Vicwood Plaza is a 34-storey building completed in 1987 with total gross floor area of 396,675 square feet with primary frontages to Des Voeux Road Central and Rumsey Street, Sheung Wan.
It is in a secondary location close to Central. Schroder Pamfleet’s strategy was to reverse the falling office occupancy and boost retail earnings by refurbishing the building to correct the original design faults and repositioning the building through rebranding and professional management. The toal renovation cost was HK$50 million.
Through a combination of strategies, including accurately assessing the market cycle, adding significant value by refurbishment and improving management, the property’s rental rates were increased by 69%.
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