Lockhart wilfully appreciates 1.3 billion a year for 35%
The retail market is picking up. Locke, a silver-tone commercial building in Causeway Bay, which is owned by a veteran investor, such as Lin Zifeng, sells at a price of RMB 1.3 billion, which is nearly 35% less than the purchase price of a year ago.
Yuan Zhiguang, managing director and head of investment and sales department of Savills, said that he had been entrusted by the owner to sell Lockhart Road, No. 487-489, Lockhart Road, with an intentional price of 1.3 billion yuan. The tender was closed on June 21.
Locke is a 26-storey Ginza-style commercial building with a total floor area of approximately 32,728 square feet. Calculated at the price of interest, the price is approximately RMB 39,721. Lin Zifeng and others purchased the buildings from Zhenke Group (00859) for 965 million yuan in July last year, which was less than one year old and was sold 335 million yuan or 34.7% higher than the purchase price.
The commercial building continued to be sought after by funds. According to information from the Land Registry, Knitting King Fangci spent RMB 137 million through CHAMPION CASTLE LIMITED to purchase Room 3 and 4A, Floor 12, Block 1, Lippo Centre, Jinzhong, with a building area of 4045 square feet and a price of 33,869 yuan. The original owner of the unit was a securities company from Malaysia. In 2001, it purchased its own equipment for 23,461,000 yuan. Its holdings for 17 years recorded a profit of 113.353 trillion yuan, an increase of 4.8 times.
Portland Street spread 120 million changed hands
In respect of the shops, the ground floor of Nos. 368, 368A and 368B, Portland Street, Mong Kok, has a total construction area of 3,230 square feet, and the city has transferred 120 million yuan to the market, with a price of 37,152 yuan. The shop is rented by the restaurant for a monthly fee of $230,000, with a return of approximately 2.3%. The original owner acquired the property for $8.55 million in 1990, and his book profit was 111.4 million yuan, an appreciation of more than 13 times.
Serviced residences 33-35 Java Road, North Point, North Point, owned by Midland Industrial and Commercial Shop (00459).