Silver main sales of Hung Hom industrial buildings and parking spaces with a market value of over 100 million
The industrial and commercial property has a large amount of silver main board for sale. The Hung Hom Industrial Building and the second phase of the Kaixuan Industrial and Commercial Center, which was originally held by a decoration contractor, was mortgaged to the finance company. It is now the main bank and is creditor. The sale price is about 104 million yuan.
The Chief Co-Director of Li Jia Ge (Industrial and Commercial Services), Mr. Wen Qixuan, said that the creditors had commissioned a sale of a basket of properties in the form of open tenders, including two industrial units of Industrial Industrial Building, 30 Man Yu Street, three truck spaces, eight private parking spaces and public housing. A truck parking space in the second phase of the Kaixuan Business Center, 47-53 Street. Among them, the industrial and commercial units of Xingye Industrial and Commercial Building are Room B and B, Room 10 on the 10th floor. The practical area is about 12260 square meters and 1393 square meters respectively. The estimated market value of the whole batch of buildings is about 104 million yuan.
Low original owner loan amount 16 million
According to the Land Registry’s information, the above-mentioned units and parking spaces are owned by Fung Electric and Mechanical Engineering Co., Ltd., and Room B, 10th Floor, Industrial and Commercial Building, is the office of the company. The entire batch of properties was mortgaged to a finance company in April this year and received a loan of 120 million yuan.
Since the market value of the unit for sale is only about 104 million yuan, if it is sold at market value, it will still be 16 million yuan or about 13% lower than the loan amount.
The information pointed out that the Competition Commission had entered the Tribunal earlier this month. It was pointed out that six decoration contractors had breached the Competition Ordinance. They were involved in the decoration works of the Housing Authority’s Kwun Tong On Tai Estate, which involved the market and conspiracy pricing. The six companies are fined and they have to pay the fees the government spends investigating. It is understood that Fengshi Mechanical and Electrical Engineering Co., Ltd. is one of the companies involved in the case.