Deng Chengbo spend 250 million purchase Prince Edward Road West property
Deng Chengbo, a senior investor with the reputation of “spreading the king,” continued to actively enter the market. He pointed out that he spent 250 million yuan on a basket of commercial and residential properties at Prince Edward Road West, Mong Kok. In addition, Chinachem Group bought the ground floor of Li Yuan Garden, Jordan Dexing Street for 63 million yuan for material acquisition.
The properties listed on the property are located at Shop F, Ground Floor, UOB Building, 90-94 Prince Edward Road West, Mong Kok, with rooftops on blocks 1 to 4 and G and H on the 5th floor. The gross floor area is 22,600 square feet and the transaction price is over $ 250 million. 1.1 million. The ground floor shops are now being rented for replacement shops and pharmacies. The units on the underground entrance to the upper floors are rented to nursing homes. The total monthly rent is $ 600,000, representing a purchase price of 2.9%.
According to the Land Registry, the original owner at the site was the Shi Jian Hui family, the “Mahjong Pavilion King”. It acquired the property in 1967 at a cost of $ 1,853,000. With over half a century of possession, its book profit was over $ 248 million.
Chinachem buy Jordan ground for M & A
In addition, Shop 8A to 8C, Ground Floor, Lee Court Building, 7-8 Dexing Street, with a gross floor area of about 2,300 square feet, is trading at 63 million yuan at a price of 27,000 square feet per sq. Ft. . The original owner purchased in 2012 42.56 million yuan, holding 6 years, 20.35 million profit book, earn 47.7%. Information from the Land Registry shows that the new purchaser is Guangtong Property Co., Ltd. and the director of the Company is Chen Jiabo, being an executive director of Chinachem. In fact, upstairs residential units in Lei Yuan Mansion registered 11 sale and purchase registrations last year, each priced from $ 14.472 million to $ 19.54 million and a salable area of about $ 13,000 to $ 15,000 with a total investment of nearly $ 180 million Yuan, does not rule out Chinachem is buying the site.