30/1/2018-10

Yongtai spread 2.85 billion W Square whole building

The whole property transaction was thriving. Wing Tai Properties (00369) also took advantage of the high selling prices. It was reported that the company sold about RMB 2.85 billion W Square apartment building in Wanchai at a price over RMB22,000. The company sold two commercial and industrial properties in the past two months to cash in at over $ 5 billion.

W Square is located at 314-322 Hennessy Road, Wan Chai. It is a 26-storey commercial building with a site area of ​​7,652 square feet and a total gross floor area of ​​128,600 square feet. At a transaction price of 2.85 billion yuan, W Square is about 22,100 yuan .

The base of the property is the catering floor, on which 16 floors are office buildings. The standard floor area is from 5093 to 7338 square feet. Another top floor is the sky garden unit with a gross floor area of ​​2,998 square feet. The flat leases from $ 33 to $ 40, currently nearly full leasing, monthly income of about 450 million, based on this calculation, the new buyer can enjoy a 1.9% return.

Wing Tai in 2005 to spend 529 million yuan to the Bank of East Asia (00023) purchased on the site, after a major refurbishment, holding stock sold for 13 years, book profit of 2.21 billion yuan, 4.4 times appreciation.

More than 5 billion cash in February

Wing Tai patched the capital strategy (00497) in October last year, bidding for the URA’s Graham Street commercial buildings and hotel land in the Central Government, and the price in the city reached as high as 11 billion yuan. Wing Tai then sold off its non-core property cash in the market, including the sale of Tsuen Wan Yung Nam Warehouse Building to Bijing at 2.163 billion yuan in early last month. Together with W Square, it sold a total of 5.013 billion yuan in two months.

In addition, the whole building of Hong Kong Connaught Harbor Building, Nos. 35-36 Connaught Road West, Sheung Wan, was approached to about the end with about $ 633 million. The property is a 23-storey commercial building, underground shops, 1 to 22 office buildings, a total construction area of ​​about 35,900 square feet, foot price of about 17,600 yuan.