Real estate market
Written by: Cai Weinan
2021-07-02 15:35
The last update date: 2021-07-02 17:08
Retail market conditions have improved in recent months, and some senior developers have taken the opportunity to buy shops in the market.
Wong Kuan Yew, managing director of Wheelock Properties, recently purchased a ground floor shop on Java Road in North Point for RMB 17.2 million at a price of over RMB 38,000 per square foot.
However, the original industry has been in charge of the goods for about 10 years, but it has to pay a slight loss of 800,000 yuan.
Huang Guangyao: Buying a shop for private investment
Wong Kwong Yew, managing director of Wheelock Properties, replied to this newspaper to confirm the above transaction, saying that he bought the shop for private investment. He believed that the shop is located in the livelihood area and the rental return is good, and he is optimistic about the future large-scale redevelopment in the area, such as the redevelopment of the Royal Theater , It is estimated that the future rental return of the shops will exceed 3%.
He also believes that the worst moment of the retail market has passed, and he will continue to pay attention to whether there will be more suitable shops for investment in the market. Personally, he is more optimistic about shops in the livelihood area.
Purchase price of 18 million in 2011
According to the information from the Land Registry, the above-mentioned property is Shop 7, G/F, Weibang Commercial Center, 8 Java Road, North Point. It was sold for RMB 17.2 million on June 3 and the new buyer was WONG KWONG YIU.
The above-mentioned shop has an area of approximately 450 square feet and a transaction price of approximately RMB 38,222 per square foot.
The shops are now leased by electrical shops and frozen meat shops, with a total monthly rent of about 23,000 yuan.
The original owner purchased the above-mentioned shop for RMB 18 million in June 2011, and the book value of this change of hands has depreciated by RMB 800,000, or 4.4%.
Shop 7, G/F, Weibang Commercial Center, 8 Java Road, North Point.
(Online picture)
In fact, there have been many real estate celebrities in the market in recent months buying shops. For example, in April, Shi Yongqing, the founder of Centaline Property, bought Shop B, Shop B, G/F, Li Hing Building, 33-35 Fast Fu Street, Mong Kok, at a concession price of 47 million yuan in April.
The shop was originally held by the chain bakery "Dapan Bread and Cakes", and the book loss was about 3.8 million yuan or 7.5%, and the actual loss after deducting miscellaneous materials was about 6.93 million yuan.
In addition, Wang Dunjing, the founder of Xiangyi Real Estate, known as a "property market expert", has been more aggressive in buying shops, entering the market three times within three months, and spending more than 168 million yuan in total.
The properties include Shop B, G/F, Hanwei Building, 44 Hankow Road, Tsim Sha Tsui, Shop A1, 1st Floor, Nan Fung Centre, and Shop M, G/F, Percival Building, 77-83 Percival Street, Causeway Bay.
As for Midland Industrial and Commercial (0459) in recent months, they have also bought multiple shops in Shu Kuk Street in North Point, Des Voeux Road West in Sai Ying Pun, Tai Ho Road in Tsuen Wan, Prince Edward Road West in Mong Kok and Ma Tau Wai Road in To Kwa Wan. 100 million yuan.
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Wong Kwong Yew Wheelock Shop Market Finance-Shops at the Eastern District Property Market