Industrial and commercial transactions dropped 8.6% m-o-m in August
According to market data, a total of 318 industrial and commercial transactions were registered in August, and the consideration totaled HKD 3.104 billion, dropped 8.6% and 31.4% m-o-m, respectively.
Cheung Sha Wan warehouses applied to build 3,647 units
Kerry Hung Kai Godown and Yuen Fat Godown in Cheung Sha Wan were approved to build 3,140 residential units in 2018. Sun Hung Kai Properties, Kerry Properties and China Resources had a modified redevelopment plan last year, suggesting to build seven residential buildings, involving 3,647 units, and the average area of the units will be 527 sq ft. The Town Planning Board will discuss the plan today.
Shop rent in Causeway Bay slashed 50%
According to market news, The Body Shop has renewed the lease for short-term of an odd no. shop, G/F, Island Beverley, Causeway Bay at HKD 300,000 per month. With an area of 534 sq ft, the unit rent is about HKD 562. The new rent is 50% lower than the previous rent.
The Legend sold at HKD 26,000 psf
Unit D, mid-floor, Tower 5, The Legend, Tai Hang, with a saleable area of 871 sq ft, has been sold at HKD 22.72 million or HKD 26,000 per sq ft. The original owner bought the unit at HKD 14.24 million in 2005, making a book profit of HKD 8.48 million in 15 years.
(Sources: Vigers Research and market news)