Quarry Bay industrial transformation commercial floor 3 million feet

With the redevelopment value of many industrial buildings in urban areas, there are at least 5 industrial buildings in Quarry Bay in recent years. The redevelopment of commercial buildings is estimated to bring about 3.3 million square feet of commercial floor space and to promote the pace of urban renewal.

Recently, the industrial building has become one of the ways for developers to attract land storage. In the first half of the year, a total of five cases of strong industrial shootings were recorded in the urban area. Two of them are located in the quarried Quarry Bay. There are now over 30-year-old industrial buildings in King’s Road that attract consortia to seek rebuilding.

Shenkang two industrial buildings Shanghai beat more than 5.7 billion valuation

Swire Properties (01972) and others just applied for a strong beat on the Ren Foo and Wah Man Industrial Complex at the junction of King’s Road and Dockyard with a total valuation of over $ 5.7 billion. This is the largest number of industrial high-profile shootings in Hong Kong over the years. The two buildings, over 40 years old, are located adjacent to the Taikoo MTR Station and are now being commercialized. It is estimated that the unified ownership will be combined to develop Class A buildings with a gross floor area of ​​about 779,000 square feet.

Taikoo Place, which is also adjacent to the city center, was also originally a series of industrial buildings. After the closure of Swire in 1976, part of the old factory buildings were renovated as industrial buildings and become Wo Dau Mansions. Some of the sites were later rebuilt into 2 industrial buildings Hong Wo Building and Changsheng Building) and has expanded and expanded around it. Over the years, it has gradually developed into the present Tai Koo Place to build a commercial complex on Hong Kong Island. In recent years, the developer has proposed the Taikoo Place Redevelopment Project to rebuild the Wo Dun Building, Hong Wo Building and Cheong Seng Building respectively into two Grade A commercial buildings with a total gross floor area of ​​about 2 million square feet and an investment of about 15 billion yuan. The first block of Taikoo Place, reconstructed from Wo Duk Mansion, will be completed in the third quarter of this year. The second of the redevelopment of Concord Building and Cheongsam Plaza, which was approved by the TPB last year, will provide retail service floor and open space as soon as 2021 is completed.

Lucky Building was approved after the construction of commercial buildings

The neighboring Hong Kong Island East Center, formerly known as Yishin and Wanbang Industrial Complex, was rebuilt. Swire currently holds about 11 commercial properties in the area, many of them through acquisitions or redevelopments, which have contributed to the transformation of Quarry Bay positive.

In addition, the Lucky Building adjacent to the Quarry Bay MTR Station is now under residential / commercial use. After New World (00017) secured a unified ownership of the property, it eventually decided to re-establish it for commercial use. It has been approved to build 1 storey high 29 Floor commercial buildings, 488,000 square feet of floor space, will set the office, exhibition and food and other elements. Three more industrial buildings, including the Tung Cheong Factory, Lloyds Industrial Estate and Cheong Lee Building, are also located near the project. Owing to their zoning for “residential (Group E)” purposes, property ownership is more dispersed and acquisition and reconstruction are more difficult.

With Central, Wan Chai detour to the Eastern Corridor connecting the fastest this next two years to enable the Quarry Bay to Central shorten the time greatly, conducive to commercial development, and the region has a number of industrial buildings to redevelopment, is expected to lead the nearby old buildings And industrial buildings to speed up the transformation.