670,000 change hands in the lane

The renting of the shop has stabilized, and the shop has regained the value of the investment. However, the construction cost of the core retail area has exceeded RMB 10 million, forming an alternative property with a price. According to the source, a “side” of the underground side space of the Granville Centre in Granville, Tsim Sha Tsui, which was currently leased to the change shop, was sold for about $6.7 million, which was a rare sale of less than $10 million in the district.

The above-mentioned “berth” is actually a space between the underground side of the Jiawei Center on the 10th Granville Road and the adjacent Kunhui Building. The construction area is about 167 square meters. According to market news, the property is changed to 6.698 million yuan, and the price is 40108 yuan. . The current site is currently leased to a change shop. The estimated monthly rent is about $20,000. The rent is about $120. The return is about 3.6%, which is higher than the return of less than 2% in the same district.

Less than 3 feet wide, only one person can enter

This “shop” can change hands below $10 million, and the rental return is high, as the property is not a traditional “shop”. According to the Land Registry, the description of the property is the location and space between the western facade of the Garvey Centre and the D section of Block No. 6014 (Kun Fai Building) which is adjacent to the Kowloon Inland Lot. The width is less than 3 ft. It is more than 50 miles deep and can only accommodate one person. Therefore, it is limited to individual industries such as changing stores to rent, so the rent increase is limited; and the shop only accounts for 0.36% of the entire building.

The Garvey Center is an old-style commercial building with a 45-year-old building. Looking up the information, the property on the ground side of the building was originally owned by the Government. In 2012, the Lands Department sold the outer wall of the Garvey Centre and the west wall of the Garvey Centre and the place and space adjacent to the Kunhui Building. Overseas registered company All Excellent Holdings Limited, the bid price is 3.33 million yuan. According to the title deed, there is no specific indication of the use of the property.

One year after the company held the goods, the outer wall of the Jiawei Center was sold for 1.2 million yuan, and only the underground side space of the Jiawei Center was reserved for rent. According to the agent, the underground side space was sold for 10 million yuan earlier, and finally sold for 6.698 million yuan. Even the outer wall that was pulled out in the same morning was cashed out of 7.988 million yuan, which was 4.58 million yuan higher than the purchase price. Benefit 1.4 times.

There is actually only one retail property in the ground floor of the Garvey Centre. The building area is about 2,300 square feet. According to the Land Registry, the ground floor covers about 17.3% of the building ownership.

A senior estate agent said that some of the old building properties would be sold out of the façade. “At that time, the division would draw a picture of it.” As long as there are shares, it is part of the building ownership.

Many of the old buildings in Hong Kong have peculiar property sales, including “stairs bottom shop” or “Jingpai shop”. The value is more than one million yuan, and the value is lower than the parking space. The most expensive alternative property in recent years is the “Children’s Playground” at the basement of Yunfeng Building, No. 77 Yunjing Road, Mid-Levels, North Point. The saleable area is 26,260 square feet. In 2016, it was sold at an auction site for 27.8 million yuan. 700,000 yuan is 38.7 times higher.