New World 737 million purchase of royal theater ownership

New World 737 million purchase of royal theater ownership

New World (00017) is applying for a strong shot of the North Point Royal Theatre Building. Recently, it purchased the cinema and several commercial titles of the project for 737 million yuan, which increased the acquisition ownership to over 90% and entered the final stage.

According to the Land Registry, the cinema section of the North Point Theatre Building and three shops have changed hands by about $737 million. The original owners were owned by the old developer Lu Haitong Chen family.

When the developer made a strong auction on the project in October last year, it held about 82.22% of the ownership of the project, involving more than 20 groups of small owners. The failure to acquire part of the theater accounted for about 10% of the ownership, and the main impact of the project’s M&A reconstruction.

According to the strong auction report, the valuation of the cinema and related facilities is about 530 million yuan, together with 3 shops, with a total value of about 610 million yuan. The current transaction price is about 17% higher. Today, the theaters and shops account for the whole project. The property rights of the four hundred and fifty-fifty-three cents are equivalent to a total of 11.8% of the title. After the developers actively raise their prices, the ownership will increase to over 90%. It is believed that the pace of project unification will be accelerated.

Lu Haitong family earned more than 730 million in 61 years

According to the data, the project theaters and shops were purchased by the HONG KONG ENTERPRISES LTD in 1958 with a basket of about 1.5 million yuan. The book was made with a profit of about 735.5 million yuan and held about 490 times. .

The Emperor Theatre Building, which is about 67 years old, is one of the landmark buildings in North Point. It is mainly composed of three parts: residential buildings, shopping malls and theaters. Among them, some of the theaters have been assessed as first-class historical buildings by the traditional advisory society. Things.

The developer has stated earlier that the initial plan in the reconstruction plan will preserve the relevant parts of the theatre and is intended to be used for cultural and artistic purposes.

The planned use of the site is now a “residential or commercial” zone. In addition to the “old deed” project, the development flexibility is greater. Apart from being used as residential development, the plot ratio is 10 times. If it is used as a commercial development, the plot ratio can be increased. Up to 15 times, with a site area of ​​35,000 square feet, the floor can be rebuilt to 525,000 square feet.