2024-05-10 28Hse Editor
The floor price is estimated at 75,000 per square foot, and it is expected to be the king of Hong Kong's new land
The fifth wave of the epidemic is severe, and the property market has continued to reduce prices. However, land development is a long-term investment, so developers' interest in land investment has not been greatly affected. The luxury residential site on South Bay Road in Repulse Bay, which was closed yesterday, is small in scale, with a buildable floor area of only about 19,000 square feet. However, because it is located in the luxury residential area of Repulse Bay and has a view of the sea, the market response was quite satisfactory yesterday. 9 tenders. The market is also quite optimistic about the land valuation, ranging from 1.03 billion to 1.43 billion yuan, and the land price per square foot is 54,000 to 75,000 yuan. It is very likely to break the old price of about 50,000 yuan per square foot on Man Fai Road at the beginning of last year. Records, aspiring to Hong Kong Xindi king.
◆reporter Yan Lunle
The luxury residential land on South Bay Road in Repulse Bay was closed yesterday. Based on market information, the consortiums that won the bid include SHKP, Kinho Properties, Great Eagle Group, Java Group, Sino Land, K. Wah International, etc., while Emperor International and Capital Strategies entered into a joint venture. mark. After winning the bid, Lin Yihua, the administrative manager of Jianhao Real Estate, pointed out that the project plan is not too big and the investment amount is relatively small, but it is quite rare, so he decided to enter the bid. She mentioned that the recent market situation is indeed affected by the epidemic, but the development of the project is a long-term consideration, and it is expected that luxury houses will be sought after. Although the land is close to the mountain, the foundation cost will be more expensive, but the bidding has taken the relevant factors into consideration.
Emperor: Proposed mansion or villa
Cai Hongji, the property manager of Emperor International, pointed out that the land is a traditional luxury residential land on Hong Kong Island. He expects the construction to take 5 to 7 years, and is optimistic about the land value in the long run. He pointed out that the group intends to develop 2 to 4 luxury houses or villas, and the bid has taken into account the foundation and miscellaneous costs. Chen Kaixin, general manager of the Java Group's sales department, pointed out that the land is rare, and it has a full sea view. It is planned to develop low-density villas, mainly to collect rent for long-term investment.
The lowest price has broken a record
It is worth noting that the current market valuation of the land is quite high, ranging from 1.03 billion to 1.43 billion yuan. The minimum value of the land price per square foot is 54,000 yuan, and the highest value is even 75,000 yuan. Looking through the information, the record of the land price in Hong Kong appeared in February last year. At that time, a consortium led by Wharf won the bid for No. 9 and 11 Man Fai Road, The Peak. The land price per square foot is the highest in the history of residential land in Hong Kong. In other words, even the lowest valuation in the current market is higher than the historical record, that is, the project is very likely to reach a new high and become the king of land.
The Nanwan Road site covers an area of about 21,173 square feet, with a buildable floor area of about 19,056 square feet. Liang Peihong, senior director of Huafang Consulting and Evaluation, said that the project is located in the extremely rare luxury residential area in Repulse Bay. In the future, some units can enjoy the sea view, and the beach and shopping mall THE PULSE can be reached within two or three minutes on foot. Behind the site is Cheung Kong's newly built terraced houses at No. 90, Shallow Water Road.The transaction price is nearly 500 million yuan, and the usable square foot price is about 90,000 yuan. Since the investment amount of the project is not high, it is estimated that three to four houses can be built, and the price per square foot is expected to reach 120,000 yuan or more after completion.
In addition, in November last year, the West Kowloon Cultural District Authority invited developers to tender for the West Kowloon Commercial Development Project Art Plaza Building under the “build, operate and hand over” (BOT) model. The tender closed yesterday and 4 tenders were received at the scene. , from SHKP, Link, Chinachem, Xinzhi, most of them are sole proprietorships.
The West Kowloon Art Plaza Building will receive at least 4 tenders
The project is the first commercial project in the West Kowloon Cultural District, and the developer who wins the bid will be granted the right to develop and operate for a period of 34 years.
In addition, Link issued a notice yesterday that it has received an expression of interest from a potential buyer who is not invited but is interested in Stanley Plaza. In response to the EOI and the unique nature of Stanley Plaza, Link invited the market to express their intention to purchase Stanley Plaza, and screened potential buyers through corresponding procedures. As of the end of September last year, Stanley Plaza was valued at about 1.45 billion yuan, accounting for about 0.7% of the group's total assets.
Like
