2.1 billion to sell the Ashley Road project
The property market has weakened and the outlook has become unclear. Some developers have put the rebuildable sites on sale. According to market sources, a commercial redevelopment site covering over 8100 sq ft in Ashley Road, Tsim Sha Tsui is under normal market release. The asking price is about $2.1 billion, which is more than 21,000 floor price per floor (hereinafter referred to as floor price). yuan.
According to market sources, some developers have completed the acquisition of three buildings, 21st to 21st Ashley Road, 27th to 25th Ashley Road, Ashley Road, 27 Ashley Road, Ashley 27, 27 Ashley Road, and recently launched a low-profile market. For sale, the intent price is about 2.1 billion yuan.
High purchase price 2.2 times
It is understood that the above-mentioned sites occupy a total area of 8107 square meters, which can be rebuilt into a commercial building with a plot ratio of 12 times. The total floor area is about 97,284 square meters. It is expected to be a retail and catering Ginza-style commercial building with an intentional price of about 2.1 billion yuan. The floor price is about 21,586 yuan.
Information shows that the developer holding the Ashley Road site is a capital strategy (00497). The group purchased the Yashili Center and Ashley 27 in 2006, with a price of 200.8 million and 142.8 million yuan. Since then, the Capital Strategy has started to purchase the 21st floor of Adrian Ashley Road in 2007. After about 10 years of acquisition, it successfully unified the entire ownership of the old buildings of 21st to 21st Ashley Road last year. The total acquisition cost is about 3.1348 billion yuan, that is, the purchase price of three properties totaled about 657.08 million yuan, which was 4.4428 billion yuan or 2.2 times higher than the purchase price. The news revealed that although the site is on sale, the owners still do not rule out self-redevelopment.
In the past, the Capital Strategy also resold the successful sale of old buildings. According to the information, the Group sold a commercial redevelopment site at No. 68 and 70, North Road, and No. 2C and No. 2, Liu Li Street, at the beginning of this year to Golden Wheel Tiandi Holdings (01232); the site will develop into a 25-storey building. The commercial building can be built with a total construction area of approximately 5,1975 square feet, and the floor price is approximately 16,235 yuan.
There were also a number of redevelopment sites in Tsim Sha Tsui or some old buildings were acquired. Henderson Land (00012) sold commercial buildings in the same district from 68 to 72C on Kimberley Road in the same district. The market price was about $2.5 billion. The total floor area of the building is 104136. The floor price is about 24,007 yuan. The buyer is a mainland investor.