A basket of property intentions on Yanyou Street is 680 million

Foshan Shunlian Group recently commissioned Savills Davis to sell Shops 1, 2, 5, 6, and 7 on the ground floor of Ronggao Building, No. 36-42, Yuyou Street, Mong Kok, 1st to 2nd floor, full floor and 3rd floor, B, D The unit has a floor area of approximately 3,600 square feet, and approximately 3,500 square feet on the 1st and 2nd floors. The total construction area of the retail portion is approximately 10,600 yuan. As for the two residential units on the 3rd floor, the total usable area is approximately 624 square feet. The intention price is 680 million yuan. At present, the property is leased to two large chain restaurants. The monthly rental income is $1.31 million. The intentional price is about 2.3%.

According to the Land Registry, Shunlian Group purchased the above site at $471.2 million in 2011. The current bid price is $208.8 million or about 44% higher than the purchase price.

It is understood that the sale of floor space accounts for about 43.5% of the shares of the whole building, with the potential for acquisition.