10/11/2017-3

North Point ten billion commercial buildings to do due diligence

Henderson’s North Point Jinghua Road Commercial Building, the Chinese company bid nearly 11 billion yuan purchase, has entered the due diligence stage, prospective buyers to Ping An insurance voice higher.

Following the establishment of the Century Center in the heart of the CBD, Century Plaza, 18 Keiwa Road, North Point, North Point, is getting closer to buying. The recent bids from Chinese-funded agencies were nearly 11 billion yuan, close to the price of the owners’ intention. According to sources, the latest progress has been that both parties have already shook hands. Owners Henderson suspended all leasing work. Buyers are actively doing due diligence and the project will be changed hands in the near future. Market sources said that prospective buyers with high security calls, fancy projects are a new commercial buildings, panoramic view, with naming rights, interested in buying for personal use.

Suspension of rental work

It covers an area of ​​29,976 square feet, with 25 storeys and a total gross floor area of ​​approximately 358,687 square feet. There are also 123 private car spaces with an average price of about $ 3,667 (excluding car parking). As a former frozen warehouse in Asia, the property was used for industrial buildings. As early as 2005, Henderson acquired a total of $ 620 million. Since the project site has been designated as a “Comprehensive Development Area", Henderson has reached an agreement with the government in August last year at 22.18 Land premium is about 6,183 yuan, together with the construction cost of about 5,000 yuan (about 1.8 billion yuan). The estimated total investment of the project is over 4.6 billion yuan. If implemented, it will be booked at a profit of about 11 billion yuan 5.4 billion yuan.