The social movement lasted for many months and the market was bearish on the prospects of investment properties
The Big Mac, a commercial landlord at the West Kowloon Terminus of the Hong Kong section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link in Tsim Sha Tsui, which will be closed this Friday (22nd), will have a valuation of about 31.646 billion to 94.348 billion yuan. Yuan, some surveyors have reduced the valuation by about 10% in response to market conditions.
The site area of the high-speed railway station is about 643,100 square feet. It is surrounded by Lian Cheung Road, Jordan Road, Hui Man Road and Austin Road West
The total gross floor area is about 3,164,600 square feet. It has been approved by the Town Planning Board. With the approval of the development plan, three 21- to 23-storey office buildings can be built. If the winning bidders want to revise the development blueprint in the future, they must submit a development plan by the Town Planning Board.
The industry turned conservative and lowered the forecast by 10%
The Lands Department put the land used for the high-speed railway station into the land sale plan last year. The initial market valuation limit exceeded $140 billion. However, the Sino-US trade disputes have weakened the investment sentiment and the monthly social movements in Hong Kong have affected the land valuation. From about 31.646 billion to 94.938 billion yuan, the land price per floor (hereinafter referred to as the floor price) is about 10,000 to 30,000 yuan.
Mr. Zhang Shengdian, executive director of the Pu’er and director of corporate development (valuation and property management), believes that the scale of the site will be developed into a representative commercial core of West Kowloon with a valuation of approximately 63.392 billion yuan. About 20,000 yuan, it is expected to attract large-scale developers to form a consortium to bid.
Lin Zibin, director of the American Association of Surveyors, pointed out that the land sales terms of the site are not allowed to be sold, and considering the market conditions in recent months, the valuation has been lowered by 10% from the original 79.15 billion yuan to 71.204 billion yuan. The face price estimate was adjusted from 25,000 yuan to 22,500 yuan. Zhang Zhichu, Managing Director of Yanliang Consulting and Evaluation, has a relatively conservative attitude. He believes that the land value is only about 31.646 billion yuan and the floor price is 10,000 yuan. He even estimates that the land use opportunity is very high.