Large scale development of Yau Tong Bay approved
The Buildings Department announced yesterday that a total of 22 building plans were approved in July, including the first two phases of Yau Tong Bay Development. The developable GFA of 2.25 million sq ft will make it become the largest project in the district. The Department also announced that private residential completions recorded 2,464 units in July, up 5.3% m-o-m.
Link REIT’s 17 shopping centres rumored to be sold
A tender list of 17 shopping centres owned by Link REIT was released recently, according to unofficial sources. These shopping centres are located in Tuen Mun, Ma On Shan, Kowloon Bay, Fanling, Kwai Chung, etc., with a market capitalisation of HKD 14.5 billion. Link REIT responded that company review is underway and does not comment on market rumor.
Entire floor of The Sun’s Group Centre sold for HKD 167 m
It is reported that an entire floor of The Sun’s Group Centre, in Wan Chai, with an area of 7,388 sq ft and two parking spaces, have been transacted for HKD 167 million or HKD 22,640 sq ft. The properties appreciated 2.1 times in 12 years. Whilst the yield is more than 2.5% for the new buyer.
Canon leased 52,000 sq ft office GFA in Hung Hom
According to market news, two low floors of China Life Center (One HarbourGate – West) in Hung Hom, with a total area of 52,000 sq ft, have been leased to Canon at HKD 40 per sq ft. The headquarters of Canon was located in the Metropolis Tower in the same district. The relocation will be an upgrade.
(Sources: Vigers Research and market news)