12/11/2018-10

Bailibao 100 million to buy Changsha Bay pre-war Tang House

Changsha Bay transforms commercial and residential communities, old buildings attract developers to rebuild, and the curved corner of Tangshan Building, No. 301-303, Castle Peak Road, was acquired by Paliburg (00617) and Regal Hotels (00078). Living in development, the building can be built with 54,000 square feet.

Curved arcade building over 70 years old

Only a few of the pre-war Tang Houses in Hong Kong have curved arcade designs. One of them is 301 and 303 Castle Peak Road, Cheung Sha Wan. The property was completed in 1945 and is over 70 years old.

The project has been sold for another 100 million yuan. The new buyer is Zhongjie Group Co., Ltd., and the registered directors include Luo Xurui, Chairman and Chief Executive Officer of Regal Hotels, and Fan Tong, Executive Director and Chief Operating Officer of Pali Insurance.

The project belongs to a historical building with a 3 storey building and the exterior has been refurbished, but has not yet received a historical rating. Similar buildings such as No. 119 Lai Chi Kok Road, Lei Sheng Chun has been rated as a Grade I historical building.

According to the information, the developer also acquired the title of the old building adjacent to No. 291-293 Qingshan Road. The property is 4 stories high and the building is about 58 years old. At present, it has purchased 33 million yuan to purchase 2 groups. After the unification of the title, the two sites will be merged and rebuilt, and the area will increase to about 5,050 square feet. With a plot ratio of 9 times, the commercial and residential floor can be rebuilt about 54,000 square feet.

The project is located close to Yuanzhou Shopping Mall, 5 to 7 minutes away from Changsha Bay MTR Station. It is also the only place in the same district, Shangdu, which is mainly engaged in small and medium-sized units. It sold about 13,000 to 149,000 yuan two years ago. Currently, the lease is about 50 yuan.