Constantly 140 Million Unified Old Building, Taikeng Xincun Street
The acquisition of old buildings was active. Henderson (00012) has been acquiring the old building of Sinchon Street in Tai Hang, and recently purchased the last two gangs for $20 million. It is believed that the entire building rights of the building have been unified to match the development of neighboring land. It is estimated that the building can be increased. To 60,000 square feet.
In recent years, Hang Di has aggressively expanded the acquisition of old buildings in the Da Hang area. At the end of last year, it retired about 120 million yuan and acquired 8 houses and a ground floor at No. 17 and No. 17A of Sinchon Street. Recently, it purchased another 20 million yuan for the remaining 2 projects. The residential buildings have accumulated a total investment of about 140 million yuan to harmonize the property rights. The purchase price for each house is between 10 million and 11.3 million yuan, and the floor price is 35 million yuan. The building is located in the southeast of Shangri-La. It is now a 6-storey commercial and residential building aged 54 years. It has a ground floor and the rest of each floor is a dwelling. There are 10 gangs with a total site area of 1,249 square feet.
It is planned to develop in the neighboring area
In addition, Evergrande commenced the acquisition of No. 9-13 Sungchur Street in Shue Street as early as 5 or 6 years ago. According to the annual report of the developer, it has already held more than 80% of the property in the project. In recent years, it has secretly acquired a number of old buildings around the area, including the purchase of 9 villagers from 23 to 25 Xincun Street for RMB 124 million at the end of last year, and the purchase of 7 houses of 21 to 22 Sinchon Street for about RMB 109 million. With two ground floors, it is estimated that it currently holds about 70% of the two buildings.
According to EPRC’s economic and real estate data, the remaining 18 to 19 projects on the same street have not yet recorded acquisitions. It is believed that the developer will further carry out mergers and acquisitions on the building so that the four sites in the above acquisition can be merged and expanded to occupy an area. Approximately 6,570 square feet of L-shaped ground floor.
If the entire site is completed, it can build nearly 60,000 sq. ft. of commercial and residential buildings. It is estimated that it will build about 30-storey buildings. Assuming a floor area of about 300 sq. ft., it will provide about 200 small and medium-sized units. In the same department, about 1 year of occupation, the latest price ranged from 28,000 to 38,000 yuan.
As a matter of fact, the old buildings in the area of Tai Hang San Tsuen Street, Wha Sha Street and Kwok Tong Street are within a 15-minute walk from Causeway Bay MTR Station. Over the years, the old building has attracted many consortia to acquire and rebuild, plus the north of Wun Sha Street. Earlier this year, the old buildings agreed by the Town Planning Board to relax the high limit to 100 meters, which is expected to promote the reconstruction of the area.