New World Dev wins Cheung Sha Wan commercial site at HKD 2.96 b
The Lands Department yesterday announced that the business site at the junction of Wing Hong Street, Yu Chau West Street and Wing Ming Street, Cheung Sha Wan, Kowloon, was awarded to the highest tenderer, whose parent company is New World Development, at HKD 2.967 billion, with an A.V. of about HKD 8,000 per sq ft, close to the upper limit of market estimates.
Golden United Dev wins Lantau Island residential site at HKD 210 m
The Lands Department yesterday announced that the luxury residential site at Cheung Sha, Lantau Island, was awarded to Golden United Development Limited, at HKD 210 million, with an A.V. of HKD 19,666 per sq ft. The A.V. is 40% above market estimates and setting a new high on Lantau Island. Parent company of the tenderer is Leap Up Investments Limited, associated with Chan Cheuk Yin, Vice Chairperson of Agile, a PRC developer.
Michael Wong: threshold of industrial compulsory sale may adjust
The Government is considering to reactivate the policy of industrial revitalization. Secretary for Development, Michael Wong yesterday said that the Government will conduct a 6-to 9-month study regarding the industry opinions and the threshold of compulsory sale of industrial buildings, in order to facilitate the ownership acquisition for redevelopment projects.
BEA Harbour View Centre sold for HKD 22,600 psf
It is reported that Unit 05, Mid-Floor, Bank of East Asia Harbour View Centre, Wan Chai, with an area of 2,495 sq ft, has been transacted for HKD 56.387 million, or HKD 22,600 per sq ft, reaching a new high in the district. According to the Land Registry’s data, the original owner purchased the unit at HKD 33 million in 2012, making a book profit of 70.9% or HKD 23.39 million in 5 years.
(Sources: Vigers Research and market news)