The price of strong shots of old buildings in Boshuyanyou Street is 386 million yuan
Deng Chengbo (Bo Shu), a veteran investor who is known as the “shop king”, has been diversifying his development projects in recent years. Among them, the old floor of the Youke Street in Mong Kok, which was approved by the Lands Tribunal in March this year, was implemented on May 18. In the morning auction, the reserve price was more than 386 million yuan.
If commercial and residential development can be built 31815呎
Jones Lang LaSalle said that under the mandatory sale order to be auctioned on the 18th of next month, the property prices of No. 61, 63, 65 and 67 in Soy Street were based at RMB 3.8639 trillion, and the site area of the old building was about 3535 square feet. Two 5-storey high-rise buildings were built in 1955 and the building is about 63 years old.
The property is currently zoned “Residential (Group A)". According to the outline plan, the height of the project is limited to a level of 80m above the main level. If it is a pure residential development, the plotpability ratio is about 7.5 times. The total floor area is about 26,513 square feet. If the commercial and residential development is mixed, the total plot ratio will be up to 9 times and the total floor area will be approximately 31,815 square feet.
According to statistics, Deng Chengbo filed a strong shot application in August 2016. At that time, about 90% of the entire project was acquired. At present, only two of the ground floor shops have failed to make successful acquisitions. The surveyor earlier estimated that the site is suitable for redevelopment as a 22-storey commercial and residential building, with the ground floor and the first floor for retail use and the rest for residential development.