Aussie Fortune 2.75 billion won Tuen Mun Logistics Repulsed 4 consortium 3228 yuan per floor
In recent years, land prices have skyrocketed and land for logistics development (hereinafter referred to as “logistics”) has also been sought after by developers. Last Friday (April 27th), the 49th District of Tuen Mun, which was tendered for the closure of the Xiao Leng Shui Road logistics area, was completed by the Australian Real Estate Group Goodman Group. In order to beat four opponents with approximately RMB2.751 billion, each party’s floor price (about 2% of the floor price) was approximately RMB 3,228, which was within the market’s expectation range. However, the construction cost and floor price were all from 2008 to the present government. The highest of the five logistics sites awarded. People in the industry expect that after the completion of the logistics facilities, the rented materials will be about 18 to 25 yuan.
Similar land price for 5 years 74%
The newly-issued small cold water logistics area, adjacent to Longfa Street and Longmen Road, covers an area of approximately 340,864 sq. ft. It is expected that a floor area of approximately 852,159 sq ft will be constructed. Landmarks were closed on Friday and five consortiums such as Xindi (00016), Shunzhi (00083), Xinjian Port Management, and the Singaporean fund Mapletree Industry entered the bid. The result was awarded by the Jiamin Group with a maximum bid of RMB 2.751 billion.
According to statistics, Goodrich Group has been in Hong Kong for about 13 years. It is one of the largest holders of warehousing and logistics facilities in Hong Kong. The total gross floor area of the 12 Hong Kong properties it manages totals more than 15 million square feet and its total assets exceed HK$30 billion.
After checking the information, the Lands Department has granted five logistics sites since 2008, of which four are located in Kwai Chung and Tsing Yi, and were awarded from April 2008 to May 2013. The gross floor price of the building was approximately 934 yuan in 2008. , rose to 1,850 yuan in May 2013.
As for the logistic areas where Xiao Leng Shui Road Logistics was granted for the first time in the past five years, the land price reached a record high, and the floor price was RMB 3,228, which was 74% more than Qingyi Landscraping five years ago. According to Zhang Qichu, deputy managing director of Valuation International’s valuation and consulting services in Asia, the rapid increase in the cost of land for industrial and other uses and the rapid development of the e-commerce industry have resulted in a huge demand for logistics facilities and he believes the cost of the land is reasonable.
Adjacent to Tunche connection road has great potential
It is worth noting that although the location of the small cold water road site is currently inconvenient for traffic, it has great potential for future development.
The site will take less than 5 minutes to drive from the Tuen Mun-Chek Lap Kok Link which is being built. This means that it will be more convenient to connect with Lantau Island and even other cities in the Greater Bay Area in the future; and the Hong Kong River Trade Terminal adjacent to the land is in the land supply. In the public consultation conducted by the task force, there is a potential for medium and long-term potential land use for industrial and brownfield lands, and long-term opportunities for co-ordinating land use for residential development.