Cheung Sha Wan Tsui Wah Court Chow Tai Fook 196 million purchase

Civil Service Cooperatives Reissue Acquisition, Tsui Wah Court, Old Buildings 330 to 332 Shun Ning Road, Cheung Sha Wan, was newly acquired by Chow Tai Fook Enterprises or related parties for 196 million yuan.

Former civil service cooperatives 9.8 million each

Tsui Wah Court is a former civil service cooperative property, building about 59 years, according to EPRC economic real estate library, a total of 20 blocks of property just bought by Shun Ning Property Development Co., Ltd., each purchase price of a set of 9.8 million yuan, a total of 1.96 Ten thousand yuan purchase full ownership.

Roughly calculated, the old building occupies a site area of ​​about 6,100 square feet and is a “Residential (Group A)” purpose. With a plot ratio of 9 times, it can build about 49,900 square feet of floor space. Based on the purchase price of $ 196 million, Land price of about 3,570 yuan.

As developers have to make two premium payments to civil service cooperatives, they will have to pay higher premiums for the eventual removal of the transfer restriction and the increase of the premium for the buildable floor respectively. As for Shun Ning Property Development Co., Ltd., the registered directors include Liu Hao Zhi and Li Zhi Xuan, the former being the same as the senior vice president of Chow Tai Fook Enterprises.

In addition, Evergrande (00012) acquired 18 to 20 Hoi Heung Road, To Kwa Wan and recorded a total of 9 acquisitions involving a total of 37.32 million yuan. The purchase price ranged from 1.445 to 5.729 million yuan. While Shops I and J on the ground floor of Yan Oi Tower in San Po Kong and Shops I and J on the 1st floor were also traded for a total of $ 44 million.