Old building acquisitions involve HKD 1.9 b so far
At least 9 projects of old building acquisitions have started this year, totaling more than HKD 1.9 billion, according to market statistics. Most of the projects are located in Mid-Levels West, Central as well as Sheung Wan. Academics believed that rising trend of old buildings acquisitions was due to the intensified land bids among developers.
Industrial registrations reached 4-year high
According to the Land Registry, a total of 601 industrial registrations were recorded in July, up 36% m-o-m and reached a 4-year new high. Total consideration was HKD 3.275 billion, rose 28% m-o-m. Increasing number of subdivided projects of industrial buildings were seen in recent months, driven up overall transaction volume.
Unit at Lippo Centre appreciated 87% in 6 years
It is reported that Unit 06, Low-Floor, Lippo Centre Tower 1, Admiralty, with an area of 2,091 sq ft, has been changed hand for HKD 65.87 million, or HKD 31,500 per sq ft, through shares transfer. The original owner purchased the property at HKD 35.28 million in 2011, making an 87% book profit of about HKD 30.59 million in 6 years.
Small shop at Sin Tat Plaza leased at HKD 1,345 psf
According to market sources, Shop G30, G/F, Sin Tat Plaza, Argyle Street, Mong Kok, with an area of 110 sq ft, has been leased out for HKD 148,000 per month, or more than HKD 1,345 per sq ft. The owner purchased the unit at HKD 10.5 million in 2007, earning a rental yield of over 16%.
(Sources: Vigers Research and market news)