High-powered industrial building rose 8.4% this year

High-powered industrial building rose 8.4% this year

The Chief Executive, Mrs Lam, announced in the Policy Address of 2018 that the revitalisation of the industrial building project was announced. According to a report issued by Colliers International, there are about 423 single-ownership industrial buildings in Hong Kong which are suitable for application for revitalisation and are mainly located in Kowloon East. Stimulated by the revitalization plan, the bank expects that the price and rent of industrial buildings will increase by 8.4% and 5.4% respectively, outperforming various property markets.

Zheng Haiyan, head of Colliers International Hong Kong Valuation and Advisory Services, said that the new phase of the revitalization of the industrial building plan includes a number of measures, namely, the whole building is modified, converted into a transitional house, the unit is allowed to be used for culture and art, and the buffer floor in the industrial building is widened. Permitted use and warehouse definition; reconstruction can be extended to an upper limit of up to 20%.

423 buildings can be activated and activated

According to the study, there are a total of 423 industrial buildings in Hong Kong which are owned by a single owner. They can be applied for revitalisation. Among them, there are 95 in Kowloon East, 84 in Kwai Chung, Tsuen Wan and Tsing Yi, and 82 in Sheung Shui and Fan Lam. A single-ownership industrial area.

As there were only 121 implementation cases in the last round of revitalisation of industrial buildings, it accounted for 53.5% of the 226 applications. Mr. Chen Wei, Director of Colliers International Capital Markets and Investment Services, believes that the value of the property conversion and the rental value have not increased as expected. It is considered that the new round of revitalization plans will focus on more mature commercial areas such as Kowloon East and will be modified. The majority of office buildings are in the office.