A small shop in Tsim Sha Tsui has been sold for HK$100 million, a high-value transaction that has rarely been seen in recent years.

The sale comes at a time when more mainlanders are expected to flock to the city to shop as well as scout for property now that the border has fully reopened.

The property is on the ground floor of Majestic House , No 80 Nathan Road.

The 300-square-foot shop was sold for about HK$330,000 per sq ft to CLC Land. It is located opposite Exit B1 of Tsim Sha Tsui Station and the Park Lane shopping boulevard.

The property is currently leased to a camera store for HK$300,000 a month.