The city’s Qingshan Road project only lost 2.6% of the price.
Urban land is favored by developers, and the price tag is also “small." The Urban Renewal Authority (URA) announced the listing price of all 17 consortiums in Cheung Sha Wan Estate/Yu Wan Street Redevelopment Project (hereinafter referred to as Castle Peak Road Project), which was obtained by Henderson Land (00012) last month. 13.33 billion yuan bid for the land, which is only 2.6% lower than the constant bid of 1.682 billion yuan. [Table of Drinks] failed to win the bid.
The above-mentioned Castle Peak Road project is located at No. 217-235 Castle Peak Road and No. 300-308A, Yuen Chau Street. It is the first URA project to adopt the new minimum floor area for residential use. The total floor area is about 159.738 million square meters, of which about 2.663 The residential floor area of the “Flat-for-Building" project of the 7680 sq. ft. and the “Building for Flat" project shall be returned to the URA. Based on the calculation of approximately 126,428 square meters of floor space that can be used for sale, the floor price of each floor (hereinafter referred to as the floor price) is about 10,908 yuan.
The URA yesterday announced the entry price of 16 unsuccessful developers including Xindi (00016) and Xinzhi (00083) in an anonymous manner. The highest price was 1.333 billion yuan, which was about 2.6% lower than the winning price. The floor price was 10628. yuan. The rest of the bid floor price is less than 10,000 yuan, such as the third highest bid of 1.190 billion yuan, the floor price of 9490 yuan, 13% lower than the winning price.
As for the developer who was the “most handy" bid, the auction price was 688 million yuan. The floor price was 5485 yuan, which was nearly 50% lower than the winning bid price.
The Castle Peak Road Project is the second project of the URA to announce all bids. The first project is the redevelopment of the Sham Shui Po Tong Tung Street/Gui Lam Street which was awarded to the Hong Kong Ferry (00050) in the Hung Seng Department for $1,022.9 million in June. The floor area of the developer for sale is about 9.7845 million square meters, and the second highest bid is 956 million yuan, about 7% lower than the winning price.
Lin Haowen, executive director of the Knightsville and director of the valuation and consulting department, said that the tender terms of the Castle Peak Road project are “directly and there is no difficulty in counting". “Everyone (counts) is well spent", especially some investment is not large. For projects, the difference in bids will be smaller. He estimates that in the future, similar small-scale urban land use will only have a gap of several percentage points in the first two bids.