Causeway Bay OLIV rental price of 37.5 new low

Last year, the total value of retail sales in the retail industry rose by 2.2% year-on-year to end the downturn in the three years of losing streak. However, the rents of retail shops in the core areas have not yet dropped. In particular, the rents of Ginza-type commercial buildings sold in the first five years were even lower. Having been in operation for 4 years but still has more than 30% vacant Causeway Bay OLIV, two new lease transactions were recorded. Among them, the median rent per square foot was only $ 37.5 per sq ft, which was more than the average rent per sq ft Four percent.

More than 36% of Ginza shopping malls are vacant

Ginza-style commercial rents have never stopped. OLIV, Sharp Street, Causeway Bay, was demobilized at the peak of retail sales in 2013. The entire building was not rented out until 2014 after the occupation. It is learned that at present, there are still seven floors left vacant in the 19-storey building with a vacancy rate of 36.8%. The owners only rent them sharply and rent flats as soon as possible.

Sources pointed out that OLIV 18 floor, full-floor, building area of ​​about 1831 square feet, leased three and a half years later, the recent rent of 68800 yuan for a restaurant, foot leased to see low of 37.5 yuan, the building has always been new lows.

According to the statistics, the site was purchased by Wong Lik Fung, chairman and executive director of Brilliant Technology (08159) and the related parties, with a total consideration of 72.3245 million yuan in 2013 and a lending rate of $ 150,000 a month after the real estate was repossessed. Substantial price cuts to 72,000 yuan, the final cumulative split 81,300 yuan or 54.2%, the unit will be able to successfully rent 6.87 million yuan per month. At the purchase price, the return is as low as 1.1%.

Zhongwei Huang Weixiong and other holders of two

Looking up the data, OLIV recorded a leasing transaction from 2015 onwards. The initial transaction was from $ 56.5 to $ 66. Compared with the latest low-price transaction, the difference between the first and the second floor price was 43.2%.

In addition, the same floor, 8th floor, full floor, building area of ​​2,060 square feet, the unit by the Central Plains Real Estate Asia Pacific Chairman and Chief Executive Officer Wong Wai-hung and the relevant person to hold, originally in 2016 to rent 110,000 yuan per month, but lost last year after the release For a time, it was rented for 85,000 yuan a month at 41.3 yuan per square foot, a decrease of 25,000 yuan (22.7%) over the two months earlier. In 2013, the unit purchase price of 76.22 million yuan, a return of about 1.3%.

Huang Weixiong and others in the same year also to 76,687,500 yuan into the 9th floor of the floor, full-floor building area of ​​2045 square feet, in 2015 by the Japanese restaurants to rented 131,500 yuan per month, but did not move into the already retired, the unit lost Since then, the price has been reduced to RMB 85,000 per month. The decrease of more than 35% has not yet been lent.