G/F shop on Parkes Street was sold for $44.9 million
Shop A, G/F, Nos. 37 to 39 Parkes Street, Jordan changed hands for $44.9 million or $74,800 per square foot. The 600-sq-ft shop was leased for $75,000 per month in last April to a bread and dim sum shop. New buyer is expected to have a rental yield of 2%. The shop has appreciated for 35 times since 1979.
The deposit of three new units in La Marina was forfeited
The deposit of three new units in La Marina, ranging from $570,000 to $1,290,000 has been forfeited recently. All of the units are from Block 2A, and two units (Flat B & E) are on 10/F and one unit (Flat E) is on 11/F. The units were originally bought by buyer on September 4. The saleable area ranged from 497 square feet to 842 square feet. However, the formal sale and purchase agreement was not signed on time, and the buyer gave up 5% of the deposit paid.
G/F shop of Foo Tat Building in Mong Kok was sold for $57.5 million
Shop 7, G/F, Foo Tat Building, Nos. 50 Soy Street, Mong Kok, was sold for $57.5 million. The original owner of the shop has held the shop for 31 years, and made a profit of $51.1 million in this sale.
Previous G/F shop of Lao Feng Xiang has been leased for $300,000
The previous G/F shop of Lao Feng Xiang on Nos. 67 to 69 Argyle Street, Mong Kok, has been leased again. The shop is located on the large and single side of Sai Yeung Choi South Street, with a total area of 3,800 square feet. The new tenant is a bird’s nest retailer, and has occupied the shop for a short-term lease of $300,000 per month, a 80% lower than the previous rent.
(Sources: Vigers Research and market news)