Ocean Park Hotel has made up 750 million premium
(00083) and the Empire Group’s Wong Chuk Hang Marine Park Fu Li Tung Hotel, which has just completed a premium of $ 750 million, with a total floor area of 437,000 sq ft and $ 1,717 per sq ft will provide 460 Rooms.
35-year premium is lower than usual hotel
The hotel is located between Burmese Bay and Tai Shue Wan, covering an area of about 133,000 square feet. It is one of the three theme hotels in Ocean Park in the second round of the expansion plan announced in 2011. It is provided by Ocean Park to developers, So that Ocean Park does not need to contribute to the profitability of the hotel, and after the expiration of the 35-year period to recover.
The project was selected as the preferred bidder at the beginning of last year, and the empire group of Guo Bingxiang was elected as the preferred bidder and became the successful bidder after the adoption of the development plan.
According to the Lands Department, the project has just completed a premium of $ 750 million, which is $ 477,000 sq ft and $ 1,717 per square foot, which is lower than the average price of the hotel.
Two 10-storey building with a total investment of 3 billion
However, according to the terms of the lease, no more than 175,000 square feet of floor space for the hotel’s logistics facilities, and no more than 43,700 square feet of floor space for retail and recreational facilities, and the project is located in the marine park park. Is also more remote, and the developers have to share with the Ocean Park, with the right to development only 35 years, so the lower premium is normal.
Ocean Park Fu Lidun Hotel will build two 10-storey high-rise buildings, providing up to 460 rooms, with a total investment of about $ 3 billion.
In addition, owners of Tai Wandao Road, Kowloon Tong also paid $ 16.15 million for the project.