Entire block of Jade Villa was sold for $23.8 million
The entire village house of Jade Villa in Sai Kung, was sold for $23.8 million or $11,333 per square foot, after a 7.8% price cut from an asking price of $25.8 million. The original owner made a book profit of $6.8 million after holding the property for nine years.
G/F shop at Cheung Ling Mansion offers 2.7% return
Shop H2, G/F, Cheung Ling Mansion, Nos. 3-13 Nullah Road, Mong Kok, with gross floor area of 185 square feet has been sold for $11 million. The seller bought the shop three months ago for $7.5 million. And the shop is leased for a monthly rent of $25,000 or a 2.7% rental yield.
G/F shop on Nam Cheong Street was sold for $20 million
An odd number G/F shop with approved cockloft, on Nam Cheong Street, was sold for $20 million or $10,811 per square foot. The total G/F area and the cockloft reached 1,000 square feet and 850 square feet, respectively. The original buyer left the market with a loss of $1.2 million, excluding expenses such as agency commissions and stamp duty. After he bought the shop, the new buyer is an investor surnamed Lam who has immediately put the property on sale for $24 million, 20% higher than the purchase price.
G/F shop of Golden Valley Mansion offers a rental return of 2.68%
An even number G/F shop of Golden Valley Mansion, Nos. 135 to 137 Caine Road, Central, covers an area of 850 square feet, was sold for $19 million, or $22,300 per square foot. It is reported that the shop is currently leased by a chain of convenience stores for $42,500. It is expected that the purchase will enjoy a rental return of 2.68%. The original shop owner has made a book profit of $9.52 million in 14 years.
(Sources: Vigers Research and market news)