Dechang Motor 948 million for sale of Chai Wan Property

The whole property was sought after. Dechang Motor (00179) announced that it sold the entire building at 14 to 16 Lizhong Street, Chai Wan for 948 million yuan

Based on the total floor area of ​​the property of approximately 95,476 square feet, the transaction price is approximately 9,929 yuan.

The property that has just been sold is Dechang Plaza and the journey to MTR Chai Wan Station is only about 5 minutes. Dechang Motors said that it had entered into a temporary contract with the overseas company Chuangfu Development Co., Ltd. to sell all the shares and related loans of the company holding the company, which is expected to be completed on or before October 23. It is estimated that the sale of the property will be recorded. With a revenue of approximately 320 million yuan, the proceeds will be used for general working capital.

According to the data, Dechang Motor commissioned a property consultant to sell Dechang Plaza last year

The building was revitalized as an 11-storey commercial building with an area of ​​approximately 7,000 to 9000 square meters. According to the Land Registry, the original owner had purchased 236.61 million yuan in 1993. Based on this calculation, the appreciation of the building in the past 26 years was about 7.1139 billion yuan (about 3 times).

The tender for the whole building of Baitingfang, Sheung Wan, with a valuation of 1.8 billion

The demand for commercial floor space is strong, attracting some owners to take advantage of the property price. Macao has fund companies or related parties recently commissioned property consultants to launch the whole building of Baitingfang, Sheung Wan, in the form of a letter of intent to submit, ending on September 13, the market valuation is about 1.8 billion yuan.

CB Richard Ellis Head of Hong Kong’s Capital Markets Department and executive director said that the owner has commissioned the sale of the entire Beringfang Building, 22 to 26 Wendong East Street. The project is 24 storeys high and is now used as office and retail space. The status quo is also sold along with existing leases and building naming rights. The total construction area of ​​the building is 70,616 square meters, calculated at a market valuation of about 1.8 billion yuan, and the bargain price per party is about 25,490 yuan.

According to the information, Baitingfang was purchased by the aforementioned Macao Fund or related persons from Jiansheng International (00224) at the end of 2016, and the cost per party was about 14,161 yuan.

In addition, the supply of traditional luxury residential areas in the urban area is extremely small, and some owners have jointly bid for joint ownership. The latest case is Hunting Garden, 17 Yide Road, Kowloon Tong. The owner has set a tender for 81.25% of the title and closed the tender on August 9. The 81.25% title market is valued at about $600 million. The Hunting Garden is a civil service cooperative project. It covers an area of ​​about 20,000 square meters. It is located at the junction of Yide Road and Wong Road. It was completed in 1960. It is about 59 years old and belongs to a 4-storey property with 16 units.

Guo Zhenchang, senior director of Colliers International Capital Markets and Investment Services Department, said that the bidding involved 13 units, equivalent to 81.25% of the title of the lot, of which 5 units have completed land premiums and can be freely transferred. The remaining 8 need to pay land premiums. The unit, the relevant owner has received the land premium amount document last week. Guo Zhenchang pointed out that the highest land-buildable plot ratio of the land is three times, the floor area can be up to about 60,000 square feet, and the floor number is up to 13 floors. I believe the project can attract Chinese and Hong Kong developers and investors to bid.


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