Old building in Wan Chai applied to construct residential building
A financial group has applied to the Town Planning Board, suggesting to loosen the height restrictions of an old building at 31-36 Sau Wa Fong in Wan Chai. The site has an area of 7,922 sq ft. With the plot ratio of five, a 15-storey residential building will be redeveloped. A total GFA of 39,600 sq ft is expected to be provided, involving 115 units.
Overall Grade A office rents down 1.7% m-o-m in August
According to a market report, the overall Grade A office rents fell 1.7% m-o-m in August. Among which, office rents in Central recorded the largest monthly drop of 2.5%.
Shop at Sheung Wan transacted at HKD 53,000 psf
According to market news, shop G52, G/F, 328 Queen’s Road Central, Sheung Wan, with an area of 500 sq ft, has been transacted at HKD 26.3 million or HKD 53,000 per sq ft. The current rent of the shop is HKD 66,000 per month, representing a rental return of 3%.
Grand Homm sold at HKD 35.775 m
Unit A, 10/F, Tower 3, Grand Homm, Ho Man Tin, with a saleable area of 1,228 sq ft, has been sold at HKD 35.775 million or HKD 29,133 per sq ft.
(Sources: Vigers Research and market news)