485 million old buildings in the entire building of King’s Road were acquired

The entire property of 383-385 King’s Road, North Point is 485 million yuan. The site area is about 3154 square feet. It is now a 4 storey old building with a commercial floor area of up to 47,300 square feet. Mr. Weng Hongxiang, Director of Midland Industrial and Commercial Services, said that the buyers are optimistic about the prospects of the long-term commercial buildings, the future development of the North Point and the advantages of the King’s Road. Therefore, the acquisition is made and the plan is to rebuild into a commercial building for long-term investment.

He also pointed out that the supply of commercial buildings on Hong Kong Island is scarce and the commercial development of the North Point District is becoming more active. The 18th Jinghua Road in the same district recorded nearly 10 billion yuan in transactions, with an average price of more than 30,000 yuan. Therefore, the future of the North Point commercial building is huge. Appreciation space. In addition, Hang Lung Group (010) recently announced that it will form a company to develop the old section of Electric Road in North Point, including the number of electric gates 226-240. Hang Lung also indicated that it will invest 2.56 billion yuan into office and commercial use, and it is expected to be in 2020. Completed.