Hong Kong's Wen Wei Po (Reporter Ngan Lun Lok) Henderson Land continue outstripped opponents,won the annual the king of old building forced sale According to information on the Lands Tribunal,Henderson Land and stakeholders on a total of six year old for compulsory auction sites, singly current valuation of the site nearly HKD $6.0 ten billion(not counting the reconstruction value),with a total area of over 135,900 square feet,can be approximately 1.2 million square feet of floor construction. In terms of area of 500 square feet per unit basis, a full batch of old buildings can be built 2,403 units.
Protracted acquisition of old buildings,can easily spend a few years, large-scale projects are more likely to be more than 5 years,many developers to abandon the acquisition and therefore, only constant has been thick in this way to work. Year, for example, 22 copies of forced sale apply to the Lands Tribunal received, involving 17 sites of old buildings,Henderson Land which accounted for 6, the ratio of 35%. Checked the records of 2013, 12 applications for old sites downbeat,Henderson Land also accounted 4,the proportion of 33% for two consecutive years old to be the king of old building forced sale.
Hoi Hing Building in Tai Kok Tsui was being forced sale
Land Tribunal yesterday received Henderson Land submitted an application to receive the latest compulsory auction Papers, No. 16 and No. 2 to 2A to 16A, 35 to 47 Lead Street, No. 32-44 Fukuzawa Kok Cheung Street, Tai Kok Tsui Street involved, namely sea on three sides unilateral Hing Building. Documents mentioned Henderson has collected 91.24% ownership of the building, through a strong desire to accelerate the unification title shot.
It is understood that the present site of Hoi Hing Building, even for a 9-storey commercial and residential ground floor of the old buildings, each floor with 30 units,now with a total salable area of 112,000 sq ft, involving a total of 278 copies of the title.Old building has been 50 years, and now has a site area of 20,114 square feet,was included in the 'Residential (Group A)'" land plot ratio of up to nine times,the future can be built for about 181,024 square feet of floor area.
Public may have another impression or for Hai Hing Building.According to the information,third floor of building,there is a bedroom unit in March last year, there had appalling Murder case, an inverse and his friends in the unit after the murder of their parents were dismembered, but the parents of the skull hidden in the refrigerator,as horrible, buildings an unfortunate incident, "Kat House." In addition, the Secretary for Development Paul Chan King served as a director of the company is also developing the Czech Republic in 1994 to HKD $610,000 to purchase a unit on the 4th floor of the building,until September 2012 was to sell HKD $2.7 million.
Henderson Land has been looking for a potential redevelopment of old buildings in Tai Kok Tsui area,in the surrounding sea-building, there are at least three sites of old buildings,including No.8 to No. 30A, No. 11-33 Tak Street Jiashan Street, ambition industrial buildings have been completion of the acquisition,together with sea-Hing Building, Henderson Land in the vicinity of four sites can be built more than 720,000 square feet of floor.
Applications of Tribunal with an annual growth of 37.5%
Throughout the year so far, the Lands Tribunal received a total of 22 applications for compulsory auction,although compared with 16 cases recorded last year,with an increase of about 37.5%, but the number of cases received in the year 2012 was 57,compared to the past two years the number of applications remained at a low level. Among the statistical applications Henderson 6 years old sites, with a total market capitalization of up to HKD $5.96 ten billion,the most striking for the Mid-West cooperation with the World Development beautiful sets,now the market value reached HKD $2.997 ten billion,the rest of the building in Ma Tau Wai with the market capitalization of HKD $9.554 billion, while Tai Kok Hoi Hing Building,started going to the application, market capitalization has reached HKD $1.04716 ten billion.
General Manager of Savills Valuation and Professional Services Services director Chan Chiu Kwok earlier said the next few years downbeat cases will decline every year, because the development potential of the project has already been acquired prospective developers roar,but in recent years the government spicy move to increase the cost of acquisition,coupled with the spicy tricks by the government have increased the cost in recent years,coupled with the developers have increased launching out the lands for sale,the developers take the easy and decreased the desire to make acquisitions.
