To Kwa Wan, former public servant cooperative, 2.3 billion for sale
The Urban Renewal Agency commissioned the tender for the sale of the old building of the Civil Service Cooperative in front of the Shing Tak Street in To Kwa Wan. The intentional price was $2.3 billion. The maximum floor area was 350,000 square feet. The floor price was more than $6,500 per square foot. However, the title of the company has not reached 80%.
The old building is located at 12-34 Shing Tak Street, To Kwa Wan, 51-77 Ma Tau Chung Road and 4 to 4A Ma Tau Kok Road. It was formerly a dismantled civil service co-operative. It is now 8 five-storey old buildings. The building is over 60 years old and provides a total of about 108 units with a total site area of 39,059 square feet.
The property is located in the east of Ma Tau Wai Village. It is about 5 minutes walk from the Song Sha Tai Station in the future Sha Chung Line. The area is undergoing transformation and many properties have been acquired for redevelopment and have certain reconstruction value.
The current planned use of the site is residential “Class A". The height limit of the building is not more than 100 metres above the main level. The maximum floor area is about 351,531 square feet. If the intention price is about 2.3 billion yuan, it is estimated that the floor price per square foot is about 6,543 yuan.
However, it should be noted that in the sale of the nine properties, the sale of the property ranges from 65% to 83.68%. Only three of the property titles can meet the strong threshold of 80%. The consortium or developer purchases It is necessary to purchase the remaining title to start the redevelopment project. In addition, there will be opportunities for redevelopment in the future. This time, the property commissioned the first Pacific Davis tender for sale, the tender closing date is January 11, 2019.
With reference to the same-storey property, the current price of the newer building is about 19,000 to 22,400 yuan, while the practical price of the Royal Court in the 20-year-old building is about 17,000 to 20,000 yuan.
Taikoo Hengdi re-purchasing 11 old buildings in Quarry Bay
According to the Land Registry, the old buildings of 24 to 38, Binhai Street, Quarry Bay, which was jointly acquired by Swire Properties (01972) and Henderson Land (00012), added another 11 shares, involving a total of about 140 million yuan. About 21,000 to 22,000 yuan.