Mainland fund 1.6 billion sweep on the ring Wan Chai site

Hong Kong’s industrial and commercial property attracts fund investment, and the mainland fund, Kay Lengrui, has recently purchased a number of sites in Sheung Wan and Wan Chai, involving a total of $ 1.6 billion.

CB Richard Ellis Hong Kong Capital Markets Senior Director Wang Guowei said the investment fund Chiron has just acquired three properties in Sheung Wan, involving about $ 1 billion.

320 million to buy Wan Chai Regulus House approved Ginza

It is understood that the property acquired by Kay Lengrui is mainly based on Wing Lok Street, including the purchase of 801 to 82 and 82 to 86, respectively, for $ 217 million and $ 455 million respectively. It can be merged and redeveloped into commercial buildings. Funds denounced $ 238 million, purchased with lots 56-58, expected to demolish the property into commercial buildings.

In addition, the fund earlier to 320 million yuan, investors Lin Zifeng purchase Wan Chai Regulus House, earlier for the site into the order, and was approved to build a silver-style commercial buildings. In addition, the Fund has also purchased a basket of property from Sheung Yuen Commercial Building in Sheung Wan with a turnover of approximately $ 338 million and a total of approximately $ 1.6 billion in various properties.

Looking for information, Chiron Rui for the mainland fund, set up in 2004, the main investment in Greater China real estate, has always invested 42 projects, mainly for the mainland project, involving a total of about 15 billion yuan. In the early years of the fund, the fund also took other consortiums to invest in Hong Kong’s industrial and commercial projects. This year, the fund has purchased a number of sites in Sheung Wan and Wan Chai. This reflects the ample market capitalization and favorable property prospects in Hong Kong.

According to CB Richard Ellis, this year, the average price of office space in Central increased by 15%, so that investors turned to the vicinity of Central to find other investment opportunities, so to attract funds to invest in the ring.