Guanhua 160 million to buy the King’s Road Shop in North Point

According to the news, Shop No. 13, G/F, Cheung Ming House, 480 King’s Road, North Point, with an area of about 2,400 square feet, was sold for about $161 million. The price was about $67,000. The shop is now rented by a bakery and a pharmacy. The monthly rent is about $343,000. The return rate is about 2.5%, and the new buyer is Guanhua Group (00539).

In 2012, the original owner purchased the shop for 155 million yuan. He changed his hand for 6 years, and his book profit was about 6 million yuan. He only left the game.

Another Chinese-funded workspace (KR Space) said it has leased more than 50,000 square feet of office space in Times Square, Causeway Bay, and will open at the end of this year.