French investor 51 million buys the entire building of Wanchai

The value of investment in old buildings in the urban area, the whole building of No. 10, Chun’an Street, Wan Chai was bought by a French-invested investor for 51 million yuan. The floor price of land is about 10,500 yuan per ton, which does not rule out reconstruction. The original industry hosted the goods in 38 years and changed its value by more than 27 times.

38 years of appreciation, more than 27 times

According to the Land Registry, the entire building of 10 Old Street, Wan Chai, Wan Chai was sold for $51 million. The new buyer was a French investor. The former owner of the property bought it in the name of the company for 1.8 million yuan in 1981. It changed hands, earning 49.2 million yuan on the book, and holding the goods for 38 years, which was more than 27 times.

Near Wanchai MTR Station with reconstruction value

The building is now a five-storey commercial and residential building with 5 residential and ground floor shops. The building has been in operation for about 55 years and is about 10 to 15 minutes walk from Wan Chai MTR Station. It is believed to have a certain redevelopment value. The site area is about 970 square feet and is classified as “Residential Class C”. If the building is rebuilt with a maximum plot ratio of 5 times, the building can be built for about 4,850 square feet. The floor price is about $10,500 based on the transaction price.

In recent years, there have been a number of redevelopments in the vicinity of the project. In the meantime, the company has invested in a plot of suitable housing on the opposite side of the property. In 2010, it was developed into a rental apartment, which is about 60 to 70 yuan. Another Hehe (00054) also voted for the nearby Jie Ship Street site a few years ago. The plan is to rebuild the residential development along with the nearby Miaojingtai and Nangutai.