Haiyunxuan Hotel Reconstruction Commercial Building Approved
The rental price of commercial buildings has reached record highs. Cheung Kong (01113) intends to convert Hung Hom Harbourfront into a commercial building and was approved in January this year. It can be reconstructed into two 29-estate commercial buildings with a market valuation of approximately $28 billion. yuan. The Ketoshi spokesperson stated that the reconstruction plan has not been implemented.
According to the BD’s information, Haiyun Tower, No. 12 Hotel, Hung Lok Road, can be reconstructed into two 29-storey commercial buildings with four-story basement and a two-storey property with a total floor area of approximately 1.107 million square feet. According to the information, due to commercial use of the land, there is no need to make up the land for redevelopment as a commercial building. Haiyun Xuan has a total of 1980 rooms and is the hotel with the largest number of rooms in Hong Kong. Once it is rebuilt, it will become the largest hotel project to be redeveloped into a commercial building.
According to the opinion of the general surveyor, the commercial building cost is increasing. The Linhai Commercial Building in the area has a value of approximately RMB 18,000 to RMB 25,000. If Haiyun Xuan is reconstructed into a Class A commercial building, the market value may reach as high as RMB 19.9 billion to RMB 27.7 billion.
Changshi: The reconstruction plan is not implemented
A spokesperson for the Ketele said that the Group had applied to the Buildings Department for redevelopment of Hung Hom Harbourfront and GCL as commercial buildings to cater for the long-term business development. However, the Group has not yet implemented the redevelopment plan. Although the Buildings Department does not show the information on the approval of the Bay Crescent, according to the information, it is estimated that if the building is rebuilt, it is estimated that more than 1 million square metres of the building can be built.
The Buildings Department approved a total of 23 building plans in January, including 13 residential and commercial and residential developments and 7 commercial developments. In January, the construction of the superstructure of Ho Tung Garden before No. 75, Peak Road, was approved. A three-storey, one-storey, low-rise, underground, layered residential building will be provided to provide 14 teams; of these, 8 units will have an indoor area. About 47.4 square meters (about 510 square miles), compared to the smallest area of MOUNT NICHOLSON No. 8 Mount Nicholas Road, the indoor area of 149 square meters (about 1604 square miles), more than 68%. Market participants estimate that if combined with other facilities such as bathrooms and kitchens, the actual area available for the project unit may be less than 2,000 square meters, becoming a relatively small new supply on the hilltops.