Causeway Bay Sugar Street two commercial buildings a total of 1.68 billion sales

Causeway Bay land to rare, to attract the consortium to undertake. News that Causeway Bay Sugar Street two commercial buildings, a total of about 1.68 billion yuan changed hands, about 27,000 yuan per square foot. It is reported that China Resources Group won the highest voice, with the same lot of property generated synergies.

Yee King Commercial Building, 23 floors of the total floor of more than 28,000 feet

The market is booming, and the urban area with the value of the site is more optimistic about the market news that the sugar street two commercial buildings changed hands, involving Sugar Street on the 27th Yee King Commercial Building, and 29 to 31 Sceneway Business Center. The Yee King Commercial Building is 23 stories high and has a gross floor area of ​​approximately 28,241 sq. Ft. And the Harbor View Center is 22 storeys high and about 34,154 sq. Ft. The above two commercial buildings are connected by the same owner, held at the beginning of the agency line of sale in March mid-cut, was not sold.

And the development center linked to the high potential

As a result of the recent market conditions, commercial land cost ideal, the consortium was completed to about 1.68 billion yuan to the total floor of about 62,395 square feet, the price of about 26,000 yuan. It is said that as the project is connected to the site and the property is aged between 20 and 30 years, the area of ​​the two sites is about 4,162 square feet and is located at the unilateral and new purchasers. The

Market participants said the buyer to China Resources Group won the highest voice, the group holds the opposite side of the music building base store, the CEO NEWAY karaoke OK shop, and the beginning of the year also shop down to the first floor, rented to Pegasus Group set up theater. If you buy sugar street two commercial buildings after the reconstruction, is expected to produce synergies, so lots more ideal.

In fact, China Resources recently in the investment market is very positive, including just to 1.109 billion yuan, one of the founder of Hang Seng (00011) Liang Chang family members, the purchase of Central Praise Lane 1,2,3 and 4 property, will be rebuilt Into a residential area with a total area of ​​about 5,223 square feet. The redevelopment of the floor is about 4.7 million square feet and the land price per square foot is about $ 235 million at $ 1.109 billion.

As the commercial property rents up, coupled with the ideal cost of land to attract the consulate to pay attention, and Causeway Bay, the reconstruction of high value, such as the beginning of the capital strategy (00497) to 1.7 billion to sell Causeway Bay J PLUS hotel building, new buyers to buy and rebuild Into a silver-style commercial buildings.

It is understood that the early capital strategy has long been applied for reconstruction, and approved the reconstruction of a 26-storey commercial buildings, the total floor of about 81,000 square feet, if the cost of 1.7 billion yuan, the floor price of about 20,000 yuan. In addition, the Mandarin Oriental International sale of the same area Excelsior hotel, can be rebuilt into 684,000 square feet of commercial buildings, the market valuation of nearly 300 billion yuan.