Castle Peak Road Project received 37 EOIs
Castle Peak Road / Un Chau Street Development Project received 37 expression of interests (EOI), and most of the applicants were the local developers. The site is a commercial and residential site, with a total GFA of 159,700 sq ft. Among which, the site will supply 261 residential units and a total commercial GFA of 266,000 sq ft.
Net take-up of office up 43.4% q-o-q
According to market news, the office leasing market in Q2 was active. The overall net take-up amounted to 928,160 sq ft in Q2, up 43.4% q-o-q. Due to the strong demands from the Chinese financial companies, the vacancy rate dropped to 4.5% in Q2, lower than the previous quarter’s record of 5.1%.
Unit price of Wing On House reached second-high of Grade-B office
Unit 5, 15/F, Wing On House, 71 Des Voeux Road Central, Central, with an area of 1,400 sq ft, has been transacted at HKD 48.5 million or HKD 34,463 per sq ft. The unit price reached a new high of the building and became the second-high of the Grade-B office. The new price was 50.6% higher than the previous record of HKD 23,000 per sq ft.
Rent at Lockhart Road slashed 20%
Street Shop, G/F, 535-537 Lockhart Road, Causeway Bay, with an area of 2,010 sq ft, has been leased out at HKD 825,000 per month or HKD 410 per sq ft. The new tenant is Bonjour Cosmetics, the new rent is 20% lower than the retail peak level of HKD 1.4 million per month.
(Sources: Vigers Research and market news)