14/6/2017-11

North Point Far East Building bid price of 400 million

WASHINGTON (Reuters) – Hong Kong land prices have risen sharply in the Mainland. There are small owners to take advantage of the joint tender to promote the construction of the value of the old building, hoping to attract the attention of developers, such as the North Point Far East Building commissioned by the Central Plains real estate sales 85% of the title, the intention price of 400 million yuan.

Selling 85% of the ownership of the site 3891 feet

According to the information, the seven-sister Road Far East Building and the Central Plains Building in the North Point were auctioned by the URA in 2015 as a “facilitator", but one of the titles at that time was less than 80%. The developers were unable to apply for a strong shot and failed Sold out. At present, the owners of the Far East Building have successfully assembled 85% of the title and re-tender through the Central Plains real estate. The intention price is $ 400 million, which is similar to that of 2015. It is learned that at that time the intention of the two buildings was more than 800 million yuan, but the overall title was less than 80%, so the auction price of 630 million yuan.

The Far East Building is aged 60 years and is now a 10-storey commercial and residential property comprising 36 residential units and 4 shops. The total site area is about 3,891 sq ft and is zoned “Commercial / Residential". For residential buildings with a floor area of ​​8, the floor area will be 31,128 sq ft. If the developer is to develop non-residential buildings, the plot will be 15 times and the floor will be 58,368 square feet.

Zhongwei real estate senior director He Weijiang said that the Far East Building from the date of open tender, July 19 at 12 noon cut.