19/12/2017-4

Deng Chengbo strong beat Tsim Sha Tsui old buildings

Deng Chengbo, a veteran investor who is known as the “King of Shops,” has become diversified in trading activities in recent years. There has also been an expansion of the property portfolio through the acquisition of old buildings. Recently, Deng Chengbo and the related parties (hereinafter referred to as Deng Chengbo’s family) have recently applied to the Lands Tribunal for compulsory auction of old property rights at Nos. 61-73 Granville Road, Tsim Sha Tsui. It is the 14th lottery application received by the Lands Tribunal this year which measures The valuation of the property concerned is about $ 913 million.

Market capitalization of more than 900 million commercial buildings can be built

The old building being applied for stronghold, adjacent to Chatham Road South, is now a five-storey commercial / retail building with a building of about 62-63 years. The ground floor is for shops. Some of the first floor is for retail sale and some are Residential, 2nd to 4th floor is a residential unit. The Deng Chengbo family made the request for a strong auction through 14 companies, as well as himself and his family members in private. He applied for a shot at the old buildings 61 to 67 Soy Street in Mong Kok in August last year and re-launched more than a year later. Granville Road, Granville Road, from 61 to 73 involving seven lots, each involving five shares of ownership, only 1 ground floor shop and three upstairs units failed to acquire.

The valuation report submitted by the surveyor shows that the market value of the entire project is about 913 million yuan. According to the information, the old buildings occupy a total area of ​​about 11,200 square feet. However, if used for redevelopment, the owners have to return part of the land to the government. The actual area available for construction is about 10,800 square feet. Commercial buildings can be constructed and estimated to be built Floor about 130,000 square feet.

In addition, Knight Frank will hold an auction this morning to auction Phase II of Yip Fat Industrial Building, 75 Hoi Yuen Road, Kwun Tong. The property was approved by the Lands Tribunal in October this year and the reserve price was about $ 1.62 billion. It is reported that the large landlord is Uncle Bo Grace Optical president Yang Jianwen and relevant persons.