The fund is finding way out. The trading of Lippo Centre which is one of index projects in HK island is active these days. The deal sq ft price sharply rises. Market news pointed out, the whole floor in high floor, building 1, Lippo Centre, Admiralty sold at HKD 505 million with sq ft price at HKD 28,500. If calculated the sq ft price is HKD 28,500, it is not only the highest sq ft price in the project but also the highest sq ft price of commercial buildings in Hong Kong. It is known that, the original owner who is investor Wu Gen-han bough the unit at HKD 126 million with sq ft price at HKD 8,456 in the end of 2004.
In addition, Xu Zhi-cong from (commercial shops) Centaline expressed, room 07, high floor, building 2, Lippo Centre, Admiralty sold at about HKD 38.57 million with cover area in about 1,478 sq ft and the average sq ft price was about HKD 26,100. The sq ft price ranks second of the project. The unit has sea-view. It is known that, the original owner earned book profit about HKD 9.01 million. There were 7 cases of trading in building 2 of Lippo Centre this year in record. The average sq ft prices were from HKD 18,000 to HKD 21,000.
Unit in Bank of America Center sold at sq ft price of HKD 28,000
Market source told, room 04, low floor, Bank of America Center, Admiralty nearby of which the unit area is about 1,837 sq ft sold at sq ft price of HKD 28,000. It is estimated that the related amount was about HKD 51,436 million.
Huang Huang from supremacy commerce of Hong Kong Property expressed, room 16th -17th , 16th floor, Concordia Plaza, East Tsim Sha Tsui bought by a user at about HKD 71.24 million. The area is about 5,397 sq ft and each sq ft price was about HKD 13,200 trading under no occupation.
Yuan Jin-pei from Midland commerce expressed, whole floor in 8th floor, Dong Mao Square, Chai Wan sales at intention sq ft price of about HKD 6,500. The area of it is about 7,758 sq ft and the related amount is about HKD 50.43 million. The unit is put on sale in no occupation currently. The current rent of the project is about HKD 20 for each sq ft. The rental yield will be about 3.7% if calculated the rent at HKD 20 for each sq ft.
The Forest Hills Shopping Mall in Wong Tai Sin sold at HKD 160 million.
Shopping malls in large area are hot. Source told The Forest Hills Shopping Mall in Wong Tai Sin including underground and 1st floor sold at HKD 160 million. The two floor areas are 15,413sq ft and 12,283 sq ft. The related total floor area is 27,696 sq ft with sq ft price of HKD 5,777.
In addition, director of Foo Lum Group bought ASIA STANDARD’s No. 5tand No. 6 shops of Canaryside in No. 8, Sung Shun Street, Yau Tong at HKD 160 million. The area is more than 20,000 sq ft including part of the 1st floor’s area. The average sq ft price was more than HKD 8,000. The register buyer is Zhong Quan Development Co.,Ltd of which the director is Yang Wei.
