Zheng Weitao’s 200 million selling tip Dongdong Haitian shop

Shop rents have rebounded from the bottom, and large-scale shop sales have also become active. The ground floor of Tsim Sha Tsui East Commercial Centre, which is held by Mr. Zheng Weitao, Chairman of Hezhiwei Food Group and related parties, has recently changed hands by 200 million yuan, which is 20% lower than the offer price.

The property is located at G7 to G9, G/F, Donghai Commercial Center. The building area is 2,761 square meters. It is now rented by Zheng Weitao’s Banchang Sushi, with a monthly rent of 450,000 yuan. It is understood that the shop has been on sale for more than one year, and the bid price is about 250 million yuan. After the bargaining price, it was sold at 200 million yuan, and the price was about 72,438 yuan. Based on current rents, the rate of return is about 2.7%.

According to the Land Registry, the property was bought by senior investor Dong Huihua and Zheng Weitao. In 2012, it was purchased for 165 million yuan. The goods were held for 6 years, and the book profit was 35 million yuan, an appreciation of 21.2%.

Before the purchase of Zheng Weitao and others, the shop was rented to Yuanqi Sushi for 220,000 yuan. Later, due to the amazing consumption power of free travellers in the Mainland, a large shop was demolished into 5 shops for rent, rented separately to the audio-visual shop and ginseng. The store specializes in the mainland passenger market. The peak monthly rent is about 620,000 yuan, and the rental income has risen 1.8 times. However, as the retail industry weakened, the shop was lost. It was only rented by Zheng Weitao’s sushi restaurant last year, but the rent has fallen by more than 27%.

On the other hand, the Chinese consortium actively purchased commercial properties in Hong Kong and drove the overall commercial market. Zhou Yongheng, the business director of Midland Commercial Area, said that the low-rise full-floor lease of the North Point Port of Hong Kong was leased and sold. The construction area was 20090 square meters. The owner’s intention price was about 442 million yuan, and the price was about 22,000 yuan.

According to the Land Registry, the owner of the unit purchased it from Swire Properties (01972) in 1997. At that time, the price was about 93 million yuan and the price was about 4629 yuan.