Tender of Graham Street Project closing today
Tender for Development of Urban Renewal Authority (URA)’s Peel Street/Graham Street Project (Site C) is closing today. The project covers a commercial GFA of approximately 433,500 sq ft and market valuations range from HKD 8.237 billion to 13 billion. It might be the most expensive URA project in history. It is said that the site will be awarded to the highest bidder according to free market mechanism.
372 new homes sold over weekend
According to first-hand sales website and market news, about 372 units were sold at weekend for the new projects in the city as at 8pm yesterday. Wings at Sea launched by Sun Hung Kai Properties accounted for 328 units. By far the project has already sold out 760 units and cashing in more than HKD 6 billion.
Secondary sales dropped 46% w-o-w
According to Centaline’s statistics, only 8 transactions were recorded in the 10 major estates over the past two days (Oct 7 – Oct 8), down 46.7% w-o-w. Kingswood Villas in Tin Shui Wai reported the most transactions of 3 cases, followed by 2 cases in Whampoa Garden, Hung Hom. No transaction was recorded in five estates.
Maxwell Industrial Building in Kwun Tong sold for HKD 1.39 b
It is reported that Maxwell Industrial Building, at 350 Kwun Tong Road, Kowloon, with an estimated GFA of 230,200 sq ft, has been sold to LAWSGROUP at HKD 1.39 billion or HKD 6,039 per sq ft. It will be redeveloped as a commercial building with reference to D2 Place in Cheung Sha Wan, turning it to a cultural and creative landmark in Kowloon East.
(Sources: Vigers Research and market news)