Kennedy Town, Court for sale and subletting
Xindi (00016)’s Kennedy Town Court resold for rent, temporarily renting nearly 70 units, with an average rent of 70 yuan.
The monthly rent is 25,000 and the annual income is 55 million.
According to the information, No. 97, Belcher Street, Kennedy Town, Xindi, was originally used for sale and was suddenly resold for rent in recent months. The developer said that since August, 70 units have been introduced in two rounds to rent out, and about 66 people have been temporarily rented. The monthly rent is between 25,000 and 77,000 yuan, and the average rent is about 70 yuan.
Xinmin, deputy general manager (rental) Jiangmin stressed that the project had been implemented as a service residential lease earlier than last year. It was not temporarily resold for rent because of vacant taxes or recent market conditions. She pointed out that the group’s annual report information was also disclosed, and the proportion of the property rented and sold by the group was about half.
Secondly, Jiang also said that the flats rented by the court are up to 90 yuan (even furniture rental), and the tenants are mainly young people and small families. Secondly, the project will launch the remaining 58 units for rent as soon as next month, mostly for the high-rise units above the 26th floor. It is estimated that the average rent will be more than 80 yuan. It is also expected that after all units are rented out, the annual rental income will reach 55 million yuan.
Located at 97 Belcher Street, Kennedy Town, the Court offers 128 units of suites ranging from 1 to 3 bedrooms with a usable area of approximately 345 to 834 square feet. The developer offers a two-month to two-year lease to the tenant.