Sheung Wan site sold at HKD 22 million loss
October 18, 2016 - Sheung Wan
Henderson Land Development has recently bought a construction site at 1-4 Ladder Street, Sheung Wan from another developer for a price of HKD 111 million, or HKD 7,762 per sq ft of permissible GFA.
The original owner bought the plot almost 2 years ago, making a book loss of around HKD 22 million in the recent transaction.
The 2,860-sq-ft plot has a maximum permissible GFA of 14,300 sq ft and is limited to the development of a residential building that is at most 12 storeys high.
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