Jordan’s Four Seas Tower Gets 2.5 Billion Purchase
The Jordan property was recently sought after. It was reported that the entire building of Jordan’s Four Seas Tower had received a bid of RMB 2.5 billion from the consortium and the high price of RMB 33,000 had been met, which was almost equal to that of the Central Shopping Mall. As the consortium is optimistic about the effect of the opening of the high-speed rail, it is deploying the whole property of Jordan.
According to market news, Jotun’s Four Seas Towers was acquired by a consortium, and the property is located on the top of the MTR station on the Nathan Road, adjacent to the Hengfeng Hotel and Shopping Mall. It belongs to the core area of the district. The property was completed in 1979 with a site area of approximately 5,073 square feet. The basement is located on the second floor for shops and the ground floor is rented by Wanning and Beijing Tongrentang. The 3rd to 14th floors are office buildings, each with an area of about 4,500 square feet, and the total gross floor area of the whole property is approximately 74,267 sq. ft. The current occupancy rate is ideal, with a monthly rental income of approximately RMB 3 million.
According to sources, the consortium received a purchase of about RMB 2.5 billion, and the price was about RMB 33,000. The return rate was only about 1.4%. The market has successively heard that Pu Wang Deng Chengbo and Zheng Eight Group Liao Weilin have contacted the shopping industry, but both have denied it.
Jordan commercial building
The consortium began to pay attention to Jotun District in the near future. After the high-speed railway opened to traffic this year, the business atmosphere near the high-speed rail station was upgraded, and it took the lead in purchasing the properties in the area. If the old family owned Jordon’s Jinfeng Tower, which was earlier confiscated by the consortium’s bid of RMB 2.5 billion, it was reported that the property would soon change hands and the price was about RMB 41,000. The new buyer’s capital strategy (00497) was the loudest. In addition, the old Xinle Hotel in the same district was also sold on the market. The property provided 160 rooms with a market value of approximately RMB 3 billion.
In addition, according to sources, Shop 98, Chung On Street, Tsuen Wan, has a gross floor area of about 1,200 square feet and an attic area of about 600 square feet. The shop floor is now rented by Luk Fook Jewellery (00590) and it has changed hands to about $88.5 million.