Rental of HK grade A office ranks 1st in world
According to a market report, annual rent of Hong Kong’s super grade A offices reached USD 304 per sq ft in Q2/2017, namely about HKD 198 per sq ft per month. The rent was up by 9% over the same period a year ago and ranked the highest in the world for 4 straight years. The rent is expected to rise 10% more in the coming 3 years.
2 old buildings on HK Island seek for compulsory sale
The Lands Tribunal has approved 5 applications of compulsory sale in the recent two months and those auditions have been arranged in accordance with court judgement. Cheung Lok Mansion in Wan Chai and 11&13 Matheson Street in Causeway Bay will put on compulsory sale today with the reserve price of HKD 2.061 billion in total.
Street shop on Nathan Road transacted for HKD 217 m
It is reported that Shop 5, G/F, Mirador Mansion, 54-64B Nathan Road, Tsim Sha Tsui, with an area of about 1,000 sq ft, has been transacted at HKD 216.8 million with vacant possession. Currently the shop is put up for lease with another shop on 1/F, with a total leasable area of 1,400 sq ft. The asking rent is HKD 650,000 per month, 23% lower than the previous rent.
Mid-floor unit of Lions Rise sold for HKD 1.2 m loss
According to market sources, Flat A, Mid-Floor, Lions Rise Tower 2, Wong Tai Sin, with a saleable area of 1,123 sq ft, has been changed hands for HKD 17.4 million. The original property owner purchased the unit at HKD 18.59 million in 2013, representing a book loss of HKD 1.2 million in 4 years.
(Sources: Vigers Research and market news)