Over HKD 2.2 billion premium paid for office development on King Wah Road plot
December 30, 2016 - North Point
Henderson Land Development has recently agreed to pay a land premium of HKD 2.218 billion, or HKD 6,728 per sq ft of GFA, for the change of land use right of the ex-Asia Cold Storage site on King Wah Road, North Point.
The former-industrial plot was bought more than 10 years ago and will be developed into an office building with 330,000 sq ft of GFA, completing in 2H2017.
Considering also the price paid for the acquisition of the plot, the accommodation value of the project totals at around HKD 8,700 per sq ft.
Trends, real estate developers, property developer, plot of land, property transactions, Henderson Land Development