The rent is lower than the Central, Sheung Wan Shopping Center, Kowloon
Central commercial rents hit a new high, driving around the business district, the recent commercial buildings and construction sites in Hong Kong Wang, reflecting the consortium optimistic about the business prospects in the area.
The focus of the recent market transactions in Sheung Wan area, and the largest transaction, should be the U Shape Graham Street C site by Wing Tai (00369) gang capital strategy (00497) bid, the market price of 108 to 11.6 billion Yuan, Chong has always been the third of your business. With a project area of 434,000 square feet, the project is a rare large commercial site in Central District. It is understood that the project led by Yongtai development, accounting for 65% of the ownership, while the capital strategy accounted for 35%.
Mid-level sale of medium-sized buildings 3.25 million mid-foot high
For commercial and industrial sale, Sheung Wan Commercial Plaza recorded a lot of hand-delivered transactions. Sheung Wan Plaza, Middle 13A to 15 rooms, covering an area of about 2,350 square feet, with about 76.37 million transactions at a price of about 32,500 yuan, the unit leased by securities companies, monthly rent of about 128,000 yuan, The rate of return of about 2%, the city pass the new buyer Bright Bios Group. According to the transaction price, a record high property prices. For April this year, the high-rise full-floor flat in COSCO Tower was sold for about $ 630 million at a price of about $ 30,000 per sq ft. The transaction was made at the same time as a new benchmark for the value of Shuanhuan Mansions.
As for Liao Wei Lin, approximately HK $ 52.53 million was purchased at Room 10, 31st Floor, China Merchants Tower, Shun Tak Center, covering an area of approximately 1,793 square feet and a price of approximately $ 29,300.
Kailongrui Fund even sweep a number of properties within the area
In addition, the Fund also connected to the market in Sheung Wan area, Kailongrui Fund recently purchased a number of Sheung Wan Properties, mainly to Wing Lok Street, including respectively 217 million and 455 million yuan, 80 to 82 Yongle Street, No. 82, Property can be merged with the development and rebuild into a commercial building. The fund also denounced 238 million yuan for the acquisition of lots 56 to 58 in the same lot. It is expected to rebuild the demolished property into a commercial building. As for a basket of Yutai Commercial Building premises sold for about $ 338 million involving underground bays, floors 1 to 4, and floors 6 to 13 and rooftop, of which office space was partially sold at between $ 19.375 to $ 28.0 million and the ground floor And the rooftop transaction price were about 71 million and 300 million respectively. It is learned that the buyer is also Kailongrui, which will be refurbished and demolished in the future.
Analysis, due to the current high rents in Central, commercial buildings around the commercial district driven rental prices upward, according to DTZ figures show that in the third quarter of Central, the overall commercial lease for 126.6 yuan, the highest quality commercial buildings up to 139.9 yuan per foot, a record high. As the PRC continued to re-grab Central A-Building, pushing up Central’s rents and vacancies, the situation remained unchanged in the short term. Therefore, tenants in Central Commercial Buildings are also considering moving out to save on rent. Sheung Wan and Central are within a 10-minute walk, while the rent is only half of Central’s, or even lower. Therefore, many Central customers will be relocated to drive up rental prices in commercial buildings. In addition, due to the current commercial buildings in Shanghuan District are mainly e-buildings and older buildings, the consortium has recently absorbed old buildings in the area