Site in Sai Wan transacted at HKD 250 m
En-bloc of Wing Shing Building, 24-26A Davis Street, Sai Wan, has been purchased by Emperor International Holdings at HKD 250 million. With a site area of 2,570 sq ft, the site will be redeveloped into a 25-27 storeys commercial and residential building. It will provide a GFA of 20,000 sq ft, supplying 50-70 small-sized units, with the accommodation value of HKD 12,500 per sq ft.
Unit price of Stars by the Harbour reached HKD 50,000 psf
House 1, Stars by the Harbour, Hung Hom, with an area of 2,235 sq ft and a 1,393-sq-ft garden, has been sold at HKD 110 million or HKD 49,217 per sq ft, the unit price reached the highest in Hung Hom. A total of three villas of the estate were sold, and cashing in HKD 310 million.
Shop at Humphreys Avenue changed hands for HKD 80 m
Street shop, G/F, 10A Humphreys Avenue, Tsim Sha Tsui, with an area of 1,100 sq ft, has been changed hands for HKD 80 million or HKD 72,727 per sq ft. The rent of the shop was HKD 168,000 per month, representing a yield of 2.5% to the new buyer. The original owner purchased the shop at HKD 16.48 million in 2003, making a book profit of HKD 63.52 million and a 390% appreciation.
Two Harbour Square leased out at HKD 4.05 m
In order to save the rental costs, more tenants moved to the Grade-A offices in the Kowloon East. 5/F-10/F, Two Harbour Square, 180 Wai Yip Street, Kwun Tong, with a combined area of 162,000 sq ft, have been leased out at HKD 4.05 million or HKD 25 per sq ft. The new tenant was DBS Bank.
(Sources: Vigers Research and market news)