The retail market was quiet, with investors waiting for the opportunity to carry out flat goods
The ground floor of No. 114 Shili Street, Sheung Wan was connected to the attic. The original owner sold it with a continuous lease before the outbreak of social movement this year. At that time, the asking price was 33 million yuan. After the social movement, the market conditions deteriorated. The price was further reduced by 8.8 million yuan, and it was finally sold for 20 million yuan, with a cumulative price reduction of 13 million yuan or 39%. Based on the 650 square feet of the berth, the equivalent price was about 30,700 yuan.
The original owner’s 39% of the book price still earns 70% of the above
The new buyer of the above shop is the Shenghui Shop Fund. The shop is currently rented to the restaurant at a monthly rent of 60,000 yuan. The new buyer can enjoy a rental return of 3.6%. Li Genxing, founder of Shenghui Shop Fund, said that the above shops are located near the MTR station and are located at the core of traditional food streets in Sheung Wan and Sheung Wan. The data shows that the original owner purchased the above-mentioned shops for 11.88 million yuan in April 2008 and held the stock for 11 years. The book profit was 8.12 million yuan or 68%.
In addition, the commercial market continues to be quiet, with some commercial buildings recording low-sale transactions. Market news indicates that Cosco Tower, a Grade A commercial building in Sheung Wan, is a 2,259-square-foot unit with a high rent of 47 yuan, which is a monthly rent of about 106,000 yuan, which is a record low for the 5-year period since November 2014.
Cosco Tower rents 47 yuan, 5-year low
In addition, Room 02 in the middle and upper floors of the West Wing Shun Tak Centre, another indicator commercial district in the same district, Sheung Wan, with an area of 1402 square feet. RMB 241.144 million was purchased, and the current rent return rate is 3.6%.