Industrial and commercial transactions down 6% m-o-m in June
According to market news, stripping out the number of internal transactions with a price above HKD 1 billion per transaction, 241 industrial and commercial transactions were recorded in June, edged down 6% m-o-m. The total consideration recorded HKD 5.5 billion on a similar level as May. Yet, both the figures plunged 50% on the yearly basis.
Fanling plot acquired at HKD 188 m
The agricultural land located at 7 On Fuk Street, Fanling was awarded to Grand Ming Group Holdings Limited on 5 June, announced by the Land Registry. It has been sold for HKD 188 million. The site has an area of 20,000 sq ft, with a GFA of 100,000 sq ft. The accommodation value is about HKD 1,880 per sq ft, and a data center complex is planned to be developed on the parcel.
Mantin Heights sold with loss at HKD 47 m
Top-floor unit, Tower 9, Mantin Heights, Ho Man Tin, with a saleable area of 1,468 sq ft, has been changed hands with a rooftop at HKD 47 million or HKD 32,016 per sq ft, 10% below the initial asking price. The original owner bought the unit at HKD 57.231 million in 2016, making a book loss of HKD 10.231 million in four years.
60% rent slash at Granville Road
Street shop B, Wah Fai Mansion, 38-40 Granville Road, Tsim Sha Tsui, with an area of 5,000 sq ft, has been leased to a supermarket for HKD 300,000 per month or HKD 60 per sq ft. The new rent is 59% lower than the previous one, and the level returns to that in 1998.
(Sources: Vigers Research and market news)