8/11/2017-10

Percival Street, an old building site sold 950 million

Causeway Bay redevelopment site rare, the news that “King Shop" Deng Chengbo sold for about 950 million yuan, Percival Street, Causeway Bay, 85 to 87, old site construction, is expected to buy into the new site to rebuild the Ginza building.

There are still 1 group property to be acquired or strong beat

Market participants revealed that the two old buildings in Causeway Bay, Percival Street, changed their hands and dealt with 85 and 87 Percival Street for a total of about 950 million yuan. Property adjacent to Times Square, behind the stage for the benefit, is quite popular lot.

The property was originally two old buildings. Lot 85 is originally 5 storeys high and has a site area of ​​about 1,164 square feet. In the early years, Deng Chengbo received the old title, and later acquired 100% of the title, involving more than 100 million yuan. Demolition; and adjacent to the No. 87 site was also acquired Deng Chengbo, including last year for 250 million yuan to buy veteran chain tea shop Christie’s own ground floor 87, an area of ​​1,100 square feet. It is understood that at present, there are still 1 items yet to be acquired by the project. It is expected that new buyers will make mergers and acquisitions or take strong positions in the future.

The project can be reconstructed about 34,500 feet of the floor

The total site area of ​​the project is about 2,300 square feet. The rebuild floor area is estimated to be 34,500 square feet. It is estimated that after the purchase and pooling of tenants’ rights, it will be rebuilt into a Ginza-style commercial building for long-term rent collection. Landlord Hysan (00014). Times Square near the old buildings, in recent years have been rebuilt into an old building Ginza-style commercial buildings, such as The Sharp, Oliv and so on.

Causeway Bay is a rare site. In the same district this year, large-scale land sales were also recorded. For instance, Yee King Commercial Building, 27 Sugar Street, and Ocean View Commercial Center, Nos. 29 to 31, were rehoused by China Resources (RER) Group for $ 1.68 billion with a total site area of ​​approximately 4,162 square feet Feet.

Zhu Zi Feng, business director of the Central Plains Office, said that on the 12th floor of Capital Center 151 Gloucester Road in Wan Chai, with an area of ​​about 14,500 square feet, the project was sold together with three parking spaces with an intention price of about $ 319 million and a price of about 2.2 feet Million, property to pay off the sale. According to statistics, the owners purchased property at about $ 14,0200 per square foot last year.