Overall Grade A office rents down 3.8% q-o-q in Q2
According to a market report, the overall Grade A office rents fell 3.8% q-o-q in Q2 this year. Among which, office rents in Wan Chai and Causeway Bay recorded the largest quarterly drop of 5.7%, and rents in Central dropped 4.9% q-o-q.
Dragon Court applied for compulsory sale
Dragon Court, 6 Eastbourne Road in Kowloon Tong applied for compulsory sale, and Agile Group and related parties owned around 81.82% of the ownership. The site has an area of 21,600 sq ft, with currently a 4-storey residential building, involving 44 units. The market valuation is about HKD 564 million.
Entire floor at The Sharp sold with HKD 26.88 m loss
According to market news, 10/F, The Sharp, 11 Sharp Street East, Causeway Bay, with an area of 1,580 sq ft, has been transacted with 21% discount at HKD 30 million or HKD 18,987 per sq ft. The transaction price and unit price reached the lowest of the building. The original owner bought the property at HKD 56.88 million in 2013, making a book loss of HKD 26.88 million and a 47.3% depreciation in seven years.
Hilltop Mansion hit new high
Unit D, high-floor, Hilltop Mansion, North Point, with a saleable area of 1,647 sq ft, has been sold at HKD 37.8 million or HKD 22,951 per sq ft. The transaction price hit a new high of the estate. The original owner purchased the unit at HKD 27.5 million in 2017, making a book profit of HKD 10.3 million.
(Sources: Vigers Research and market news)