CityU 550,000 rent Wan Taili floor

In recent years, many tertiary institutions have purchased or rented Kowloon East Commercial Building for teaching purposes. They are now holding the City University of Hong Kong (hereinafter referred to as CityU) on the 4th floor of Wantau Plaza, and have just implemented a monthly rent of nearly $550,000. On the first floor of the building, there are more than 18,500 square meters of floor space, and the rent is less than 30 yuan.

A total of one and a half rented 29.5 slightly lower market price

City Dagang has leased the whole floor and 17th floor of the 16th floor of Wantai Plaza, No. 15 Chuangye Street, to the developer, and the building area is 18,533 square meters. The monthly rent is about 547,000 yuan and the lease is about 29.5 yuan. It is understood that the former tenants of the batch of units are churches, with a monthly rent of about 505,000 yuan and a new rent of over 8%. However, according to market information, the renting of Wan Taili Plaza in the past year was from 30 to 35 yuan. Therefore, the above lease transaction is less than the market price.

In mid-2017, CityU purchased a total of 4 floors from 20 to 23 floors of the building, which cost about 558 million yuan and a total construction area of 47,130 square meters. Together with the new tenancy unit, CityU currently uses the 65663 square floor of the building.