Wing Tai 2.85 billion Kwun Wan W Square commercial buildings
Investment climate continued to boom, Yongtai Real Estate (00369) sold about 2.85 billion yuan, W Square Wanchai sold all commercial buildings, foot price of about 25,000 yuan, the rate of return of about 2%, the buyer for the local veteran family.
Earlier Yongtai commissioned a survey division to sell its entire block of W Square Wan Chai commercial buildings, and has recently closed its tender, the project won the bid number Road consortia, including local families and foreign funds. It is reported that the property eventually 2.85 billion yuan changed hands.
Early acquisition of renovated units all leased
The property is located on Hennessy Road, a 26-storey building with a basement to 6th floor catering to approximately 7,388 square feet of floor space on Level 3 and approximately 5,511 square feet of level 4 on the 4th floor. It also houses a garden, Restaurants and other rental. More than 7th floor office space, each floor area of about 5,093 square feet. Yongtai in the early years after the acquisition of property renovation, the equipment substantially upgraded to the level of a building, the current occupancy rate of 100%, commercial rent an average of more than 40 yuan.
Rental income of 4.8 million monthly return of about 2%
The total floor area of the property is about 115,000 square feet. At a price of 2.85 billion yuan, the fare is about 25,000 yuan. The buyer is a local family and receives long-term rent. The monthly rental income of the property is about $ 4.8 million. The rate of return About 2%. In the same district, the previous large-block whole-building transaction was completed, with a charge of about $ 1.35 billion at the end of last year for the Kailongrui Fund to purchase the entire former Prince Hotel, 297 to 305 Jaffe Road, Wan Chai from Wang Pu.
In January, the overall property market was booming. The market has recorded 5 transactions of more than $ 1.5 billion in properties, reflecting more market capitalization and a very prosperous investment climate.
W Square, formerly known as the Bank of East Asia, Wan Chai Building, completed in 1978, in 2005 the Bank commissioned a surveyor to sell property, the result of Yongtai Asia to 5.4 billion purchase, then the group 200 million renovation, now 2.85 billion yuan Sell, book profit of about 2.31 billion yuan.
Last year, Wing Tai’s capital strategy (00497) won the commercial projects at the junction of URA’s Causeway Street, Jie Chi Street and Pavilion Lin Street. Wing Tai immediately released non-core properties, including last month’s subscription of $ 2.16 billion to Tsuen Wan Wing South warehouse building to sell billion Beijing, together with W Square, a total cash of 5 billion yuan.
In terms of buying and selling shops, investors said that the company purchased $ 28 million from Shop C, Shop 26 to 32 Pegasi Street in Jordan. Another Sai Hui shop Lee Geun-hsin to sell 17 million yuan, Mong Kok Tobacco Street, Shop 6, Ground Floor, an underground Shop K, an area of about 700 square feet. It is reported that he bought in August last year to 13.8 million yuan, selling goods profit of about 3.2 million yuan.