Yip Fat Factory Building applied for compulsory sale
Yip Fat Factory Building, 75 Hoi Yuen Road, Kwun Tong has been applied for a compulsory sale. Biel Crystal owned 84% of the ownership, and the valuation of the building is about HKD 1.4 billion. The company had already unified the ownership of Yip Fat Factory Building Phase 2, these two sites have a combined area of 40,000 sq ft, and a maximum GFA of 480,000 sq ft will be provided after the redevelopment.
Four floors of Mee Wah Factory Building sold at HKD 258 m
1/F, 2/F, 5/F&6/F, Mee Wah Factory Building, 1 Tsat Po Street, San Po Kong, with a combined GFA of 30,588 sq ft, have been sold at HKD 258 million or HKD 8,435 per sq ft. Hanison Construction owned 57.1% of the ownership, it can be redeveloped into an industrial building with a GFA of 93,000 sq ft or a commercial building by paying the land premium.
Unit price of Far East reached the highest for office
33/F, Far East Finance Centre, Admiralty, with an area of 10,800 sq ft, has been transacted at HKD 660 million or HKD 61,100 per sq ft. If the sale is completed, it is expected to be the highest unit price for office, and surpassing the record of HKD 60,000 per sq ft kept by the top floor of The Centre. The new buyer is Winland Group.
Duplex unit of The Masterpiece changed hands for HKD 126 m
Unit F, 66-67/F, The Masterpiece, Tsim Sha Tsui, with a saleable area of 2,108 sq ft, has been sold at HKD 126 million or HKD 60,000 per sq ft. The unit price reached the highest of the estate.
(Sources: Vigers Research and market news)