Private residential completion recorded 1,622 units in August
The Rating and Valuation Department announced that private residential completion recorded 1,622 units in August, surged 18.5 times m-o-m. A total of 13,076 units were completed in first eight months this year, accounting for around 63% of the whole year target.
State Theatre Building unified ownership at HKD 4.776 b
Ownership of State Theatre Building in North Point was successfully unified by New World Development at HKD 4.776 billion, and it was the largest compulsory sale in the city. The site has an area of 36,200 sq ft, and is located at the junction of King’s Road and Tin Chong Street in North Point.
Shop at Shau Kei Wan sold at HKD 318 m
According to market news, shop on G/F & 1/F, Shaukiwan Centre, 407-409 Shau Kei Wan Road, Shau Kei Wan, with a combined area of 32,330 sq ft, has been sold at HKD 318 million or HKD 9,836 per sq ft. The shop is currently rented to an elderly home at HKD 900,000 per month, representing a yield of 3.4% to the new buyer.
Skylight Tower changed hands at HKD 25 m
Unit A, low-floor, Skylight Tower, Mid-Levels West, with a saleable area of 1,119 sq ft, has been changed hands at HKD 25 million or HKD 22,341 per sq ft. The original owner bought the unit at HKD 7.85 million in 2007, making a book profit of HKD 17.15 million and a two times appreciation.
(Sources: Vigers Research and market news)