2024-04-25 28Hse Editor
After the promulgation of the National Security Law of Hong Kong, there has been no impact on the consortium’s investment in Hong Kong, and new high prices have appeared in the land sales market! The Lands Department announced yesterday that Fo Tan Industrial Land was granted to China Mobile for 5.6 billion yuan, with a floor price of 5,967 HKD per square foot. Regardless of the total amount and the price per square foot, the industrial land reached a new high, nearly 50% higher than the market's expected upper limit. . Surveyors also pointed out that the winning price was higher than expected, reflecting the market's demand for industrial sites. It is worth noting that for about 8 months from November last year to now, 5 official lands have been invested by Chinese capital or joint ventures, accounting for 55.6% of the official lands sold during the same period, reflecting that Chinese capital has been quite active in Hong Kong in the recent search Investment Opportunities. ■ reporter Yan Lunle
Created a new high-priced Fotan industrial site, located at the junction of Songtou Road and Guidi Street. The real estate area is about 98,792 square feet and can be used for industrial purposes. The total floor area is 938,524 square feet, including 15% of the public parking area. According to information from the Lands Department, this time China Mobile acquired land through a company called Data Space Co., Ltd., with a land price of 5.6 billion yuan, equivalent to 5,967 HKD per square foot.
Floor price per square foot reached a record high of 5967 HKD
According to the information, the land is the largest industrial land in the past 20 years. Last Friday, 9 bids were received and the response was quite satisfactory. The market valuation of the project before closing the bid was only about 2.14 billion to 3.754 billion yuan, and the floor price per square foot was about 2,280 to 4,000 yuan. In other words, the land price this time is 49.2% higher than the market ceiling, and it has set a historical industrial land price and The record high land price per square foot is quite rare in the recent period of tight political atmosphere and economic downturn.
Reflect user's desire for industrial land
Knight Frank, executive director and head of valuation and consulting, bluntly stated that the winning price was higher than expected.Reflect the desire of developers or users for industrial land. He also pointed out that the government has rarely launched industrial land in recent years, hoping that the government can increase industrial land in the future to meet market demand, otherwise it will only push up industrial land prices. Lin predicts that the winning consortium may construct a project as a high-end logistics or data center. It is expected to be mostly self-used, with a development cost of more than 10 billion yuan, such as a rental return rate of 3% to 4%.
In fact, the new supply of industrial buildings launched by the government in the past is limited, and it will be zero supply in 2019. The above projects are located in the Fo Tan Industrial Zone and there have been no large-scale project supply for many years. In addition, the development scale of the project is about 4 times more than the calculation of more than 200,000 square feet of industrial land released by the government from 2017 to 2018. It is a rare large industrial land supply in recent years and can be used to develop new industrial buildings. The bidding for the site attracted many large developers and consortia.
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