Yang Fenbin Purchased 75 Million People’s Livelihood Shops in Tsuen Wan, Mong Kok
Senior investor and chairman of Jinhua Industry Yang Fenbin recently purchased Minshengpu Investment and newly purchased two shops located in Mong Kok and Tsuen Wan respectively, with a total investment of 75 million yuan. It is learnt that Yang purchased the Mong Kok shop at Shop No. 7 on the ground floor of No. 15-19 Cheung Wong Road. The retail space is about 690 sq.ft. and the transaction price is 26 million yuan, equivalent to a price of 37,600 yuan. The shop is currently leased to a food wholesaler. For 50,000 yuan, it is expected to enjoy 2.3 cents rent back. It is reported that the original owner purchased in 2012 for 15.48 million yuan, holding 10.2 million yuan in book value for 6 years, and 68% in property appreciation.
Enjoy rental return 2.3 to 2.5 PCT
Yeung Wan Minsheng Shop, purchased by Young, is located at Shop No. 53, No. 53, Dam Street, Shop No. 8, with an area of approximately 1,000 square feet. It was purchased with a lease, and the transaction price was 49 million yuan, equivalent to a price of 49,000 yuan; the shops are now rented by the ice room. The monthly rent is RMB 103,800, and it is expected to enjoy a rental return of 2.5%.
According to the data from the Comprehensive Land Registry of the Hong Kong Property Business Store Information Research Department, in February, the total number of registrations for commercial and industrial shops registered 998 cases, up 24.4% month-on-month; during the period, the registered amount was 10.077 billion yuan, down 38.1% on a monthly basis, but In the fourth consecutive month, it has stabilized over 10 billion yuan.