The Center rumored to be sold for HKD 40.2 b
Cheung Kong Holdings is reportedly selling 75% interest of The Center office tower, for a record price of HKD 40.2 billion or HKD 33,000 per sq ft. It is also said that the buyer is a consortium headed by a mainland oil company and include one or two Hong Kong investors. Justin K H Chiu, Executive Director of Cheung Kong Holdings, yesterday responded that an official announcement will be made once the sale is confirmed.
14 land deals with premium over HKD 6.8 b in Q3
The Lands Department announced that 8 lease modifications and 6 land exchanges, totaling a premium of HKD 6.77 billion, were registered during the quarter ending September 2017. Among these 14 transactions, 6 are located on Hong Kong Island, 2 are in Kowloon and 6 are in the New Territories. The transactions exclude Small House cases.
Housing rent trended up 6% in 3 quarters
According to a market report, overall housing rent in Hong Kong already trended up 6% in the first three quarters of the year, higher than the growth of 1.6% over the same period a year ago. In the fourth quarter, the rent will continue to stay at a high level, getting close to HKD 36 per sq ft of saleable area for the 107 major estates, and expecting an 8% full-year growth.
Causeway Bay shop leased to Lao Feng Xiang at HKD 660,000
It is reported that Shop 32, G/F, JP Plaza, 22-36 Paterson Street, Causeway Bay, with a GFA of 1,800 sq ft, has been leased to Lao Feng Xiang at HKD 660,000 per month or HKD 367 per sq ft. Previous tenant was a handbag shop with a monthly rental of about HKD 1 million. The new rent is lower than the old one by 34%.
(Sources: Vigers Research and market news)