Wuyi Group “drop nail" to buy the old building of Wong Tai Sin
The Chinese-funded consortium secretly acquired the old buildings in the urban area. After the relevant persons of Wuyi Group bought a residential site in Mingfeng Street, Wong Tai Sin, they purchased a group of neighboring old buildings for 7.2 million yuan. The transaction price of the unit 1 year ago was 50% higher.
At the end of last year, the relevant persons of Wuyi Group purchased all the titles of residential sites at No. 18-20, Ming Fung Street, Wong Tai Sin for $112 million. The floor price was about $6,914.
3rd floor households 7.2 million baht price 11,500
According to the EPRC Economic Real Estate Database, the project is based on a group of 3rd floor units of the old building No. 22 to No. 24, with a total of 7.2 million yuan. The new buyer is Mingjia Co., Ltd., and the company’s registered directors are Lian Mingshun and Zhan Huilu. The two are Wuyi Group people, the former is the chairman and general manager of Hong Kong Wuyi Group.
The practical area of the 3rd floor unit is 626 square feet, calculated at the purchase price of 7.2 million yuan, and the purchase price is 115,000 yuan.
54 years old, 10 units in the whole building
The 4th floor of the same floor on the same floor of the same building was changed to 4.8 million yuan in August last year, and the transaction price was 50% higher than the one-year transaction. It can be seen that the developer has accelerated the reunification of the title with high prices.
The old building at 22-24 Ming Fung Street has a building age of 54 years, with 1 ladder and two gangs. The whole building provides 10 units and ground floor shops. There are market facilities such as markets and parks nearby. It is less than 10 minutes from Wong Tai Sin MTR Station. The step has a certain value of reconstruction.
The site covers an area of about 1,800 square feet and is now classified as “Residential (Group A)". It is estimated that after the unified title, it will be merged with the adjacent sites of No. 18 to 20, with a maximum commercial and residential plot ratio of 9 times. The building can be built with a total area of 32,400 square feet. If the average is 350 square feet per group, it is expected to provide about 100 small and medium-sized units. With reference to the existing flats in the same district, the average practical price is between 17,000 and 19,000 yuan. The newer old Chongshan, the recent second-hand price of 20,000 yuan.
In recent years, the Government has launched a small number of land plots and is mainly dominated by medium and large-scale land. Many Chinese consortiums have changed their use of second-hand market transactions or acquisitions of old buildings to absorb land, including Carina and Vanke, respectively. Old building property, etc.