Longguanghejing Rent Central Center Deploying the sale of Ap Lei Chau Mansion

Longguang Real Estate (03380) and KWG (01813), two Chinese-funded developers, last year’s residential landlord in Hong Kong Island, Lei Nam Road, Ap Lei Chau, which was awarded about 16.856 billion yuan, is estimated to sell as soon as possible next year. The district office building was deployed for sale. It has just rented nearly 2.2 million yuan for about 32 million yuan to rent the full floor of the 32nd floor of the Central Center.

2.2 million per month, rent 32 floors, full floor

According to the Land Registry, the 32nd floor of Central Central, with a floor area of 25,609 square feet, was leased out for about $2,195,000, with a lease of $86. The new tenant is Tsuen Wan (Hong Kong) Investment Limited. Information shows that Tsuen Wan was the joint venture company of Longguang Real Estate and Hejing Taifu in February last year to invest in the land of Lei Nam Road in Ap Lei Chau. It is expected to use the unit as a sales office and sales centre.

The site was held by Xu Rongmao, chairman of Shimao Real Estate (00813), originally rented by investment bank Goldman Sachs, but leased until the end of December this year. It is reported that the unit had previously rented 80 yuan per baht, and the latest transaction rent was 7.5% higher than the rent.