The new Wenhua Center is full of 230 million

The funds were transferred to the second-floor commercial building market. Cai Zhizhong, a veteran investor, had just purchased the entire 13th floor of the New Wenhua Center in Tsim Sha Tsui with a total investment of 230 million yuan. The property has an area of 19,947 square feet, and the discount price was about 11,531 yuan.

Mr Chua said that the purchase of properties for long-term investment purposes has a feeling that Tsim Sha Tsui office buildings are behind the market and that it is rare for them to have full-tiered listings. Therefore, they are low in absorption for long-term rental collection. At present, the monthly rent is 620,000 yuan and the return is 3.2%. The original owner purchased the property for 108 million yuan in 2010. He held the stock for about 8 years and his book profit was 122 million yuan, which was more than doubled during the period.