Loosen the plot ratio of Yip Fat Factory Building Phase 1
Biel Crystal has proposed to the Town Planning Board to loosen the plot ratio by 20% to 14.4 of Phase 1, Yip Fat Factory Building, 77 Hoi Yuen Road, Kwun Tong. The site has an area of 20,000 sq ft, it is expected to be redeveloped into a 39-storey (with a two-storey basement) innovative industrial building, and a total GFA of 288,000 sq ft will be provided.
Yuen Long shop changed hands at HKD 60,500 psf
Shop B4, G/F-M/F, Hop Yick Plaza, 2-20 Mau Tan Street, Yuen Long, with a combined area of 413 sq ft, has been changed hands at HKD 25 million or HKD 60,500 per sq ft. The original owner made a book profit of HKD 5 million and a 25% appreciation in nine years.
Harbour Glory transacted at HKD 33 m
Unit A, mid-floor, Tower 5, Harbour Glory, North Point, with a saleable area of 1,097 sq ft, has been transacted with 6% discount at HKD 33 million or HKD 30,082 per sq ft. The original owner made a book profit of HKD 3 million and a 10% appreciation.
Shop in Tsim Sha Tsui sold at HKD 220 m
According to market news, Shop B, G/F, Railway Plaza, 37-39 Chatham Road, Tsim Sha Tsui, with an area of 6,716 sq ft, has been sold at HKD 220 million or HKD 32,758 per sq ft. The current monthly rent of the shop is HKD 700,000, representing a rental return of 3.8% to the new buyer.
(Sources: Vigers Research and market news)