(reporter Zhou Ying) The investing on commercial property is hot. Property which has large area is divided into partitions for selling becomes a new trend. It can improve the flexibility and speed up the transaction. For owner, they can earn faster and low down the invest risk. Liao Wei-lin who is a senior investor know it well. He confirmed out all shops in 18 floors of 「H8」 which is Ginza mall type commercial building in No.8, Hau Fook St , Tsim Sha Tsui bought by him less than one week ago. It made cash in about HKD 670 million. Now only one street shop left asking for HKD 180 million . It is estimated that the whole building can make HKD 850 million cash in if sold out. Comparing to the buying price which was HKD 700 million, it is really a deal making fat profit.
「H8」Ginza mall type commercial building in No.8, Hau Fook St , Tsim Sha Tsui was bought by senior investor Liao Wei-lin from CSI Properties Limited at HKD 700 million in earlier. The project includes about 18 floors with about 2,188 sq ft for each floor. Mr. Liao divided it into partitions and sold in whole floor type after purchasing.
Street shop asks for HKD 180 million.
Market source told, 18 floors of the project have been confirmed out in less than one week. The sq ft prices were between HKD 16,000 to HKD 17,000 making HKD 670 million cash in. Now there is only one floor left which is street shop in 3,000 sq ft. The intention sq ft price is HKD 60,000 and the related amount is HKD 180 million. It is estimated that it can make HKD 850 million cash in if the whole building sold out.
In addition, there is owner also divided the middle floor in No.3, Hoi Shing Rd, Tsuen Wan into 4 units. The last sea view unit just sold at about HKD 4,780 of sq ft price. Base in rough calculation, the owner made cash in more than HKD 32.5 million from the partitions selling and earned book profit more than HKD 9 million.
The profit of selling the middle floor in No.3, Hoi Shing Rd was more than HKD 9 million
Liao Xiao-yan from Centaline Holdings (Commercial shop) expressed, the unit is located in room A1 of middle floor with the cover area is 1,983 sq ft. The sale price was HKD 9.48 million and the sq ft price was HKD 4,780. It is a sea view unit bought by investor. It is said that, the original owner bought room A in that floor at about HKD 22.832 million in August last year. The cover area of it is 7,500 sq ft and the sq ft price at that time was HKD 3,070. The original owner felt like to sale in partitions later because small unit in low admission would attract more buyers and in high negotiability. The 7,500 sq ft of floor area was divided into 4 units for selling by the owner's decision. It is said that, the owner received many purchasing talks after the partition units put on sale in October this year. All the units were sold out in two months making more than HKD 32.5 million cash in. And the sq ft price of this kind of units appreciated more than 55% in one and a half years.
Besides, market source pointed out, room 06-08 which are located in low floor, Concordia Plaza, No.1, Science Museum Road, East Tsim Sha Tsui are in cover area about 5,532 sq ft. The sq ft price of them were about HKD 11,800 and the related amount was about HKD 65,277,600. It is said that, the buyer is a long term investor.
