Wanchai former police quarters are expected to re-evaluate 7.6 billion

Wan Chai District has not launched commercial land for many years. The Government has incorporated the commercial property of the former Wan Chai married police dormitory into the land sales plan several years ago. It was later put on hold due to judicial review. With the end of the lawsuit, the land is expected to come back and be launched. 7.6 billion yuan.

Has been converted into commercial and has been developed by the former police station

The former Wan Chai Married Police Quarters at 219-227 Lockhart Road will be benefited. The site was rezoned to commercial use many years ago, together with the former Wan Chai Police Station project belonging to the second-class historical building. Commercial and hotel projects with a total site area of ​​approximately 21,000 square feet.

According to the Government’s planning, the residential quarters will be used for the development of office buildings, shopping malls and hotels. The police stations cannot be dismantled and rebuilt because they are monuments. They are only allowed to be converted into hotels. The entire project can be built with a total floor area of ​​about 255,000 square feet. The market valuation is about 6.4 billion to 7.6 billion yuan, and the land price per square foot is about 25,000 to 30,000 yuan. It is estimated that the land has the opportunity to be included in the next year’s land sales plan.

In addition, the Government is vacating the three government buildings in Gloucester Road, which will be used for comprehensive commercial development, including the pedestal as an extension of the exhibition. The estimated site area is about 143,000 square feet. The estimated project can provide about 1.884 million square feet of commercial buildings. In addition, there will be approximately 248,000 square feet of new convention and exhibition facilities. There will be hotels and Grade A office buildings on the upper level of the exhibition facilities. The current valuation of the site is about 37 billion yuan.