Emperor 250 million to purchase West Wing Yongsheng to rebuild
In the urban areas, it is difficult to reclaim land, and there is a price for mosquito-reconstructed land. An old building site with a floor area of less than 2,600 square feet in Nucleus Street, Kennedy Town, Kennedy Town, Western Corridor. It was purchased by Emperor International (00163) for a total investment of $250 million. It is expected to build a single commercial and residential property, focusing on small units.
According to the Land Registry’s information, the entire building of Yongsheng Building, 24-26A Nurs Street, was sold for $250 million. The new buyer was FAME MASTER LIMITED. The site area of the property is approximately 2,570 sq ft. It is now a 7-storey old building with an age of 60 years.
Zhang Bingqiang, executive director of Emperor International, confirmed the purchase of the site. He said that due to difficulties in acquiring land on Hong Kong Island, although the site size of Yongsheng Building is small and there is no possibility of expansion, the two owners of the building are willing to sell the ownership together and have a rare opportunity to purchase for reconstruction. It is estimated that a commercial and residential building will be constructed with 25 to 27 storeys high and 50 to 70 small units will be provided. The total floor area will be about 20,000 square feet and the floor price will be RMB 125,000.
In addition, the One Mission Society applied to the Town Planning Board for the construction of a mixed-use residential building in the existing site of Ng Cha Tong and the Stanford College of Shek Kip Mei, Shek Kip Mei, providing 330 residential units.
The Church’s Shen En Yu Tang and other relocations involve 330 households
According to the TPB’s documents, No. 5, No. 7 and No. 7 Yi Yam Street in Shek Kip Mei are now “Government, Institution or Community" and “Open Space" with a site area of approximately 25,900 sq ft. It is proposed to reconstruct a school, a church and Hierarchy of residential buildings, and relax the height restrictions on the site to 130 meters above the main level, thereby creating a 43-storey mixed-use building.
The proposed project has a total GFA of approximately 284,500 sq.ft., with basement to the 7th floor building churches, schools and clubhouses, non-domestic use for 133,100 sq.ft.; 8th to 41st floors for residential use, with a floor area of approximately 151,400. Fang Hao, a total of 330 groups. The applicant pointed out that the development of a tiered dwelling will be the opportunity to take this opportunity to cope with the Government’s policy of increasing the volume of flats to be built.