Kowloon Bay Jianli Industrial Building Shop 100 million for sale
Since the launch of East Kowloon, the business atmosphere in Kowloon Bay has become increasingly strong. It has also stimulated the demand for food and retail in the district. Property investment in the region has been good.
Recently, some landlords put up for sale the ground floor of Jianli Industrial Building in Kowloon Bay. Since the unit has paid for the land, it has successfully transferred from a factory to a business and can be used for shops. It is a rare ground floor in the market and its bargaining power has increased sharply. The intention is to release the market at a price of 100 million yuan.
Even the lease for sale, rental return 2.4%
Chung Hsiung, director of the business department of the Central Plains (industrial and commercial shop) Ministry of Industry and Commerce, said that the store for sale was Room 02, G/F, Jianli Industrial Building, No. 19 Hongkai Road, Kowloon Bay, with an area of approximately 3,431 square feet and was sold at an expected price of 100 million yuan per square foot. The asking price is about 29,146 yuan. The property was originally used for industrial purposes. However, the landlord had already used the land premium form in the early years as a permanent commercial purpose, making the property more flexible in terms of use and adding selling points. The site will be sold in the form of a tenancy agreement. The existing sub-division will be used as two bunks for rent. For canteens and exchange shops, the total monthly rental income is about 200,000 yuan, and the average lease rate is about 58 yuan, with a rental return of about 2.4 percent.
Kwong’s means that Jianli Industrial Building has a good geographical location and is adjacent to the Telford Gardens and Kowloon Bay Sports Grounds of the major housing estates. It is only about 8 minutes walk from the MTR Kowloon Bay Station and also provides a stable source of tourists due to its convenient transportation. Taking full advantage of the business environment, in addition, the projects put up for sale have been supplemented by permanent land prices, which can be used for commercial purposes. The choice of tenants is more diversified, which greatly enhances the potential for appreciation of shops, self-use or long-term rental, and rental returns. Also greatly increased.
Land premium has been used for commercial appreciation potential increase
According to statistics, the transaction of the last commercial bunker in Jiulongwan District needs to be traced back to the middle of 2016. It is located at Shop 01-02, G/F, Shise Commercial Centre, with an area of approximately 3,344 square feet and a transaction price of approximately 633.56 million yuan. About 19,000 yuan, which indicates that there is a shortage of ground floor shops in the region, the owners are very reluctant to sell.
Although there are no shortages of industrial building properties in the area, there are only a few cases of transfer from the base factory. This is mainly due to the limited availability of the factory. New transactions can refer to the factory units of the Kowloon Bay Industrial Centre that changed hands at the beginning of this year, with an area of approximately 2,068 square meters. But after all, the use of the factory is not as versatile as the ground floor and flexible. Even if the factory cost is higher than that of a layered industrial building, there is still a gap with the ground floor. Compared with the Kwun Tong District, the sales of industrial and commercial floor shops are also not very active. The new transaction last year was the ground floor of the China Everbright Sunrise Center, 52-56 Chun Yee Street, with an area of approximately 620 square feet, which was sold for 16.63 million yuan. 26,419 yuan.