Old building at Tung Chau Street applied for compulsory sale
An old building located at 306-312 Tung Chau Street, Sham Shui Po applied for compulsory sale, and New World Development owned at least 80% of the ownership. The site has an area of 4,770 sq ft, and the market valuation is about HKD 160 million.
Fifty major Grade A office buildings recorded four transactions in August
According to market news, four transactions were recorded in fifty major Grade A office buildings in August, down one transaction m-o-m. Of which, Kowloon regions recorded three transactions.
Mong Kok shop rent slashed 69%
According to market news, Shop 21C, G/F-1/F, Soy Street, Mong Kok, with a combined area of 3,300 sq ft, has been rented to a sportswear brand at HKD 250,000 per month or HKD 75.7 per sq ft. The new unit rent is 69% lower than the previous one.
Failed transaction recorded at La Vetta
A failed transaction was reported at La Vetta. A buyer agreed to purchase a special unit, 6/F, Tower 1, La Vetta, Kau To at HKD 68.23 million in May last year but has failed to complete the transaction, forfeiting HKD 6.82 million of deposit.
(Sources: Vigers Research and market news)