Tender for a residential site in Ma On Shan close today
The tender for a residential site at Whitehead, Ma On Shan, will close this afternoon. Market valuations of this sea view plot ranged from HKD 950 million – 1.31 billion, with an accommodation value of around HKD 8,000 – 11,000 per sq ft. The tender is expected to attract a number of developers and both PRC and local capital groups.
Proposal of Staunton Street withdrew by URA
Previously the Urban Renewal Authority (URA) has submitted an application for the amendment of Sheung Wan’s Staunton Street / Wing Lee Street Project to the Town Planning Board (TPB). The application is scheduled to be reviewed by the TPB today, however, the URA suddenly withdrew application after seeking opinions from communities.
Brighton Hotel sold for HKD 970 m
It is reported that the whole block of Brighton Hotel, located at 128 Lockhart Rd, Wan Chai, has been sold for HKD 970 million by Mr. Wong Kin Yip, Chairman of Midland Holdings. The transaction involved 69 guestrooms, one street shop and an entire retail floor on 1/F. The transaction price of each room was more than HKD 14 million and the expected return was over 3%.
Ocean Bay villa sold for HKD 145 m
According to market news, Even No. House, Ocean Bay, Stanley, with a saleable area of 2,453 sq ft, has been transacted for HKD 145 million, or HKD 59,100 per sq ft. The Land Registry’s data shows that the original owner purchased the property at HKD 98 million in August 2010, making a book profit of HKD 47 million (about 48%).
(Sources: Vigers Research and market news)