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Mysterious consortium with more than 200 million robs Ap Lei Chau Street shop for 3 months and quickly changes to eye-catching clauses without compensation

2022-01-22T00:13:50.571Z


In recent years, many developers have increased their land reserves through the acquisition of old buildings, but not every developer is good at adopting this method. In November last year, there was an old building on Ap Lei Chau Street and a basket of ground-floor shops was acquired by a consortium for 220 million yuan.


In recent years, many developers have increased their land reserves through the acquisition of old buildings, but not every developer is good at adopting this method.

In November last year, there was an old building on Ap Lei Chau Street and a basket of ground-floor shops was acquired by a consortium for 220 million yuan. However, after three months, the transaction of this large acquisition was cancelled, and the small owner made a big profit of 219 million yuan. Wealth becomes water."

Some people in the industry believe that the above situation is mainly due to the developer's "overbidding and counting the wrong number", but there is no need for compensation due to a striking clause.


The above-mentioned cancelled transactions are 12 shops and 10 penthouses, with an area of ​​about 2,500 square feet, involving 44% of the entire building. A non-locally registered company (EPOCH GLOBAL ENTERPRISES LIMITED) bought it for 220 million yuan.

However, the transaction was cancelled on January 10 this year (CANCELLATION AGREEMENT), reflecting the failure of the acquisition.

According to the data, the above-mentioned Hing Fu Building, No. 84, Ap Lei Chau Street, is an old six-storey building completed in October 1978. There are 30 residential units upstairs and 12 shops on the ground floor. 12 lofts.

The purchase price is expected to be more than 30 million higher than usual

A market person familiar with the acquisition of old buildings revealed that the consortium bought the batch of shops for about 220 million yuan earlier, which was higher than the market price and was estimated to be at least more than 30 million yuan higher than the general purchase price. "Cancel the closing.

The market person continued to point out that the consortium that failed in the acquisition would have already signed a clause to protect itself. If it fails to acquire 80% to 90% of the entire building, it will not be killed, and the shop property will return to the small owner. hands.

Small shop owners originally made a big profit of 219 million

Looking through the information, the small shop owner bought the property as early as 1975 at about 900,000 yuan. If the earlier transaction price is about 220 million yuan, the property has been held for about 46 years, and the value has appreciated by 219 million yuan or about 243 times during this period. However, The cancellation of the transaction finally "sees wealth and turns water".

The location of the above-mentioned properties is in the midst of an acquisition battle. The acquisition scope involves three six-storey old buildings at No. 78-84, Ap Lei Chau Main Street. The buildings are between 44 and 55 years old, including the above-mentioned Ap Lei Chau Main Street that provides 30 units. No. 84 Hing Fu Building, and the other two are the old buildings at No. 78 and 80-80A, Ap Lei Chau Main Street. The two old buildings provide 5 and 10 residential units respectively, with 1 and 2 shops on the ground floor respectively.

Lingfu Group holds more than 20% of the ownership of the old buildings in the middle

The chairman of Link Fook Group, which is participating in the above-mentioned old building acquisition battle, said that the group has taken the lead in the acquisition of 3 old buildings at No. 78-84, Ap Lei Chau Street, among them, Nos. 80-80A. Over 20% of the ownership of the old building was temporarily dominated in the acquisition war. However, at the end of the year, a mysterious consortium unexpectedly appeared to “intervene” and bought the ground floor of Hing Fu Building, No. 84, Ap Lei Chau Street for 220 million yuan. .

He explained that since the old buildings 80 to 80A, which his company holds 20% of the ownership, are located in the middle of the site, even if the old buildings on the left and right are acquired by the consortium, they will definitely not be able to rebuild, so they have no way to continue the transaction. beaten back".

The three old buildings involve a total of 45 residential units and 27 shops

The above three old buildings involve a total of 45 residential units and 27 shops. The entire site covers an area of ​​about 6,400 square feet. Calculated at a plot ratio of 9 times, the total floor area after redevelopment can reach about 58,000 square feet.

The above-mentioned site is located near the Municipal Building and is also facing the entrance and exit of the MTR station. The flow of people is relatively high. After the redevelopment, the high-rise units are expected to open to sea views.

Sino-Ocean unifies the title of the old building on Yaqian Long Road in Kowloon City at a reserve price of 705 million and sells 64% of the old building on Tung Choi Street in Mong Kok. Off-the-plan developers launch 580 million acquisitions of 80% of the industrial buildings at Si Shan Street, Yau Tong, plan to forcibly auction and rebuild residential buildings

Source: hk1

All news articles on 2022-01-22

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