Grade A office vacancy rate in Central at 7.2% in September
According to market news, the overall Grade A office vacancy rate was at 7.9% in September. Among which, vacancy rate in Central increased to 7.2% over the month, and its Grade A office rent accounted for an accumulated drop of 23.8% this year.
Shop rent in Causeway Bay at HKD 171 psf
According to market news, street shop, G/F, Lockhart Road, Causeway Bay, with an area of 700 sq ft, has been rented at HKD 120,000 per month or HKD 171 per sq ft. The new rent is 59% lower than the previous rent, returning to the level ten years ago.
The Redhill Peninsula changed hands at HKD 43.88 m
Unit A, low-floor, Tower 7, The Redhill Peninsula, Tai Tam, with a saleable area of 1,567 sq ft, has been transacted with HKD 1.1 million discount at HKD 43.88 million or HKD 28,003 per sq ft. The original owner made a book profit of HKD 12.131 million and a 38% appreciation in five years.
Entire floor of Mong Kok industrial building sold at HKD 28 m
13/F, Fook Chiu Factory Building, 20 Bute Street, Mong Kok, with an area of 7,182 sq ft and a rooftop, has been sold at HKD 28 million or HKD 3,899 per sq ft. The original owner made a book profit of HKD 27.48 million and a 52.7 times appreciation in 48 years.
(Sources: Vigers Research and market news)