Le Village reached new highs
According to market news, Unit A, top-floor, Le Village, Happy Valley, with a saleable area of 1,048 sq ft, has been transacted at HKD 29 million or HKD 27,672 per sq ft. The transaction price and unit price reached the highest of the estate. The original owner purchased the unit at HKD 10.9 million, making a book profit of HKD 18.1 million in 11 years.
Victoria’s Secret moving out Causeway Bay shop
Women’s underwear brand Victoria’s Secret suddenly moved out its current shop at Capitol Centre, 5-19 Jardine’s Bazaar, Causeway Bay. The giant shop has a total area of 51,188 sq ft, has been rented out at HKD 7 million per month or HKD 137 per sq ft since September 2017. The lease ending in August 2027, Victoria’s Secret is expected to pay the remaining rent of HKD 630 million.
Entire floor of Manhattan Place rented at HKD 30 psf
According to market news, entire floor of Manhattan Place, Kowloon Bay, with an area of around 20,000 sq ft, has been rented by Warner Music at HKD 30 per sq ft.
Shop at Sai Ying Pun changed hands at HKD 45 m
Street Shop, G/F, 63 Des Voeux Road West, Sai Ying Pun, with an area of 1,055 sq ft, has been sold early this month at HKD 45 million or HKD 42,600 per sq ft, 15% higher than the market price. The original owner bought the shop at HKD 12 million in 1993, making a book profit of HKD 33 million and a 275% appreciation in 27 years.
(Sources: Vigers Research and market news)