Citibank sold G/F self-use shop in Central
American-owned Citibank recently sold a G/F shop in the core area of the Central District. The bank sold the G/F shop in Wheelock House for $710 million. It has made a huge profit of $300 million after holding the shop for 17 years. The new buyer is known as “Taiwan Cheung”, an investor Mr. Cheung.

The return of the middle level of No. 2 Park Road is 6.7%
Flat B, middle floor, No. 2 Park Road, Mid-Levels West, has a saleable area of 905 square feet has been leased for $42,000, or $46 per square foot. The original flat owner has held the property for 17 years, and the rental return is 6.7%.

Kai Bo sold shop on Nga Tsin Long Road for $90 million
G/F shop on Nos. 56-66 Nga Tsin Long Road in Kowloon City, owned by Kai Bo Supermarket’s Mr Lam, with a total area of 2,343 square feet, changed hands for $90 million, or $38,412 per square foot.

G/F shop on Lai Chi Kok Road changed hands for $65 million
G/F shop on Nos. 302 to 304 on Lai Chi Kok Road, with an area of 2,400 square feet, changed hands for $65 million or $27,000 per square foot. The original buyer held the shop in the name of the company in 2010. The book profit amounted to $39.8 million for eleven years, and the property appreciated by 1.57 times during the period.

 

(Sources: Vigers Research and market news)


 

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