Swire Buying Building Materials near the end of the acquisition

Swire Properties (01972) acquired the Wan Chai Baohua Building, Lantau Street project, earlier denounced 430 million acquisition of 4 ground floor shop and a group of residential, the acquisition of the material nearing completion.

According to information provided by the Land Registry, Shop A, Shop B, G / F, Shop 7 and 11, Lantau Street, and Shop A, 1 / F, respectively, were purchased by Jane Hui Limited for a consideration of $ 430 million. Each purchase price is approximately 100 million To $ 110 million while the purchase price of the residential unit was about $ 13 million.

In recent years, Baohua Building was acquired by Swire and many other companies. Developers acquired more than 80% of their ownership and applied for strong bids in two years. Earlier this month, the Lands Tribunal awarded a strong auction and the reserve price was about $ 2.06 billion . With the acquisition of several shops above, it is estimated that the project acquisition is coming to a close.