Li Yongzheng 350 million to buy Tai Tam Road House

Li Yongzheng 350 million to buy Tai Tam Road House

The southern part of the estate has a reconstruction value, attracting investors to enter the market. According to the Land Registry, the estates in Blocks 10A to 10C of Tai Tam Road changed hands by $350 million on the 22nd of last month. The registered buyers were SURE PROFIT CORPORATE LIMITED. The directors of the company included senior investors, Mr. Li Yongzhen, because the two were in the name of the company. When entering the market, it is required to pay 30% of the property price of “Spicy Tax”, involving RMB 105 million. The original owner ELTEE ENTERPRISE LIMITED, the company’s directors include Legislative Council member Lin Jianfeng or related parties.

It is reported that the site area of the above-mentioned estate is about 8792 square meters. The existing building was built in 1982. It consists of three duplex units and an underground open-air parking lot. It has the potential to be rebuilt into a 3-storey residential building with a plot ratio of 0.75 times (with one floor of open parking). Between the two, the floor area of the building can be about 6,594 square meters. Based on this calculation, the land price per square floor of the transaction is about 53,079 yuan.