70,000 rented in Garden Street, 20% lower than the old rent

Large-scale demonstrations continued, and rents in the core area continued to be under pressure

According to the news, the Mong Kok Garden Street site, which is owned by the “Mahjong King" Shi Jianhui family, was rented out at 70,000 per month, which was about 20% lower than the old rent.

According to the Land Registry, the G/F, at the ground floor of No. 107 Fa Yuen Street, Mong Kok, was rented out at $70,000 last month. However, the first tenant was a hot pot shop. The old rent was $87,000. As a result, the new rent fell by about 20%. According to another report, the rent in the store was as high as 100,000 in 2013, so the rent dropped by about 30% compared with the peak period.

The return rate is about 4.3%

The information also shows that the owner of the shop is SINOLIGHT HOLDINGS LIMITED. The directors of the company are Shi Bingxiang and Shi Bingyan, who are members of the Shi Jianhui family of the Mahjong Pavilion. The shop was purchased at 19.38 million in 2007. For the second rent calculation, the rental return is 4.3%.

On the other hand, some of the owners also took advantage of the sale of their properties. Chen Weiliang, senior divisional business director of the Central Plains (Industrial and Commercial Services) office building department, said that there are 3 parking spaces on the whole floor and 2nd floor, Block A, Block A, Yijing Road, No. 1 Hong Kwong Road, Kowloon Bay. The area is about 13,751 square meters, with an intent price of about 177 million, and the price is about 12,779 yuan. It is sold in the form of exchanges and leases. Some of them can be rented back after sale and can be resold in the form of shares.

Yijing full-scale intention to sell 177 million

Chen Weiliang said that the property separation was square and the utility rate was high; it is understood that the owners made a cautious bidding price in response to market conditions. According to the bank’s latest valuation, the property is valued at 200 million, and the price is about 14,439 yuan. The intentional price is about 11.5% lower. Chen added that about half of the property was leased to a German company; the other half is now owned by the owner and can be rented back after sale.

On the other hand, the demand for commercial rentals is also recorded in the market. According to market news, the first floor of Room 700, Nathan Road, Mong Kok, covers an area of ​​about 1010 square feet and is rented out at a monthly rent of 45,450 yuan. The average rent is about 45 yuan. In addition, the same project, Room 87, Low Floor, 700 Nathan Road, covers an area of ​​about 1079 square meters, rented out at a monthly rent of 48,555 yuan, with an average rent of about 45 yuan.


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