25/9/2018-3

Lianxianglou floor shop old building

The site is a 100-year-old old-style teahouse, Lung Fung House, Sheung Wan Estate, Sheung Wan Estate. The Capital Strategy (00497) has over 90% of the revenue and has applied for a strong auction. The property is currently valued at about $560 million. It is expected to redevelop the floor 6.3. Ten thousand square meters of commercial buildings.

The supply of core commercial buildings in the Central District is limited. The old buildings in the district have attracted many consortiums to rebuild and redevelop in recent years. Since the capital strategy, the acquisition of the Zeng Zhaoying Building at the junction of Wellington Street and Huaanli in the last year has started. 98% of the ownership, the remaining middle-class residential buildings have not been successfully acquired, involving a group of company owners.

Valuation of 560 million

The building is now a 9-storey commercial and residential building. The ground floor and the first floor are currently leased by Lianxiang Building. The area is about 5,300 square feet. The lease period is expected to be completed in the second quarter of next year. , the deployment will be rebuilt in the future, I believe that there will be another location to relocate.

In fact, the building is about 5 minutes walk from Sheung Wan MTR Station and is a unilateral location. The geographical location and landscape are relatively open. The market is eager for the commercial floor in the core area of ​​Central and Sheung Wan and has a certain reconstruction value. .

The project has a site area of ​​approximately 4,206 square feet. The planned use is “commercial”. The surrounding area is mainly commercial projects and old buildings. If the plot ratio is 15 times, it is estimated that the floor can be rebuilt to 63,000 square feet, suitable for development of more than 30 stories. As a result of the old deed project, it is believed that the future development planning uses can be more flexible. According to the property valuation of about 560 million yuan, the floor price is about 8,935 yuan.

In addition, the Baosheng Group, which is owned by the descendants of the Chen Shuqu family, has taken over 80% of the property in the old building at 73-75 Lion Rock Road, Kowloon City. It is estimated that it can be redeveloped with the adjacent sites 67-71. Chengke Building has approximately 57,000 square feet of commercial and residential properties.

The property is now a 64-year-old, 5-storey commercial and residential building. The developer has started the acquisition in 2017. Over 30% of the shares have been acquired. The remaining properties of the remaining properties have not been purchased. Three small owners are involved. The valuation is about 152 million yuan.

A few years ago, the developer bought an old building near the 67-71 through the URA’s Promoter Pilot Scheme. It is estimated that after the joint development, the site area can be increased to 6,346 square feet, calculated by 9 times the commercial and plot ratio. , can build a floor of about 57,000 square feet.