The price of the property is 1.66 billion baht, 73 Repulse Bay Road
The Chaohao site has been sought after. The 73 Hong Kong Island Repulse Bay Road site on the south side of Hong Kong Island, which was held by lighting merchants, has just been sold for $1.6 billion to Sun Hung Hong, who is known as the “shell king" of the stock market. The land price is about RMB 163,000, which is the second highest floor price of flats in Hong Kong.
In the area of traditional mansions, the independent houses are often sought after by the rich. However, due to the limited number of stocks available, transactions can be made at astronomical prices. According to market sources, the property of 73 Repulse Bay Road, owned by lighting merchant Xu Zhenrong, has just changed hands with the company’s equity transfer. According to the company’s Registrar, the property owner has recently recorded the conversion of directors. The original director Xu Zhenrong Resigned earlier this month. On the same day, Sun Hung Hung has been appointed director, meaning that the property has successfully changed hands.
An area of 13,000 feet
According to the agency, the transaction price of the property was about RMB 1.6 billion, the land area of 13,094 square feet, the plot ratio was about 0.75 times, and the building area was 9,821 square feet. Based on this calculation, the building price could be as high as RMB 163,000. It is higher than the record of 150,600 yuan for 75 No. 75 Deep Water Bay Road, Southern District, purchased by Pan Sutong, Chairman of Gaoyin Finance (00530). It is only second to the record of 228,000 Gefu Shandao, the chairman of Xianghong Group, at the top of the hill. The second highest floor price for land in Hong Kong.
According to the statistics, the property has been reconstructed into a brand new house in recent years. Occupational paper was obtained in 2016. The total area of the large house is 8,618 square feet. Based on the calculation, the practical price is as high as RMB 186,000. There is also a garden/forecourt and patio. In total, it has a total of 11,200 sq. ft. and 2,200 feet of rooftops.
Sun Hongsong, a buyer, has been active in the stock market. He has performed many financial techniques in the stock market, making him a big earner in the penny stocks and even the cents. He is now the major shareholder and director of a number of penny stocks, and he is also a long-term investor. (00689) Chairman.
Transfer of company stocks, material and taxation 480 million
Since the transaction was resold as a share transfer of the company, the buyer could save 3% of the hot tax, involving about 480 million yuan in taxes. According to statistics, the property was purchased as early as 1993 for 8.2 million yuan, and now the value of the book changed nearly 200 times.
Repulse Bay Road is one of the most valuable areas in the Southern District. The owners are all rich and famous in the city. For example, Dawu, No. 75, Repulse Bay Road, is owned by CITIC Rongzhijian and it is located at 89 Repulse Bay Road. The owner is Liang Liangsheng, Chairman of the Mainland Regal Sinbo Group.
Driven by the sky-high price, it is believed that the owners in the area will bid even harder, and even further counter prices. It is worth noting that at the end of this month, the Southern District will also have a landmark strip of valuable land located at No. 39 Shou Shan Chung Road. The market value is as high as $7 billion. It will create the largest private real estate transaction in Hong Kong at any time. Hong Kong’s Mingmen family, Zhou Shouchen, is a descendant of the family.