JLL
JLL is a leading professional services firm that specializes in real estate and investment management. JLL is a Fortune 500 company with annual revenue of $19.4 billion in 2021, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021.
Basket of properties on Yen Chow Street sold for $100m
Basket of properties on Yen Chow Street sold for $100m
Bridgeway Prime Shop Fund and Owl Square Co-living acquired the properties.
Six retail shops and nine residential units at Kin Sun Building, Nos. 11-19 Yen Chow Street in West Kowloon were sold separately to two buyers for a total consideration of $100m, its marketing agent, JLL announced.
Bridgeway Prime Shop Fund acquired the retail shops for $70m, whilst Owl Square Co-living Founder Max Poon and AL Group Limited Chairman Laurence Chan got a hold of the residential units.
“All these six connecting corner shops with wide frontages are very rare in the area. With numerous residential redevelopment projects nearby, I am very optimistic about the price appreciation potential of this investment,” Edwin Lee, founder of Bridgeway Prime Shop Fund, said.
Accordion to Lee, the shops provide a passing yield of 3% and could achieve a yield of 5% when projects nearby the properties are completed.
Poon, for his part, said he will transform the nine residential units into “high quality and affordable living options for young professionals.”
How will the 0+3 arrangement affect HK's industries?
The leasing market expects a pickup in activities.
Residential block in Grampian Road sold via auction
It was sold for $404.25m to Gold Focus Holdings Limited.
Industrial leasing slows as global trade activities plunge in July: JLL
Global trade is negatively affecting leasing demand for industrial space.
Residential sales jump 12.7% MoM in August
JLL attributed the increase to the handful of primary projects launched during the month.
En-bloc industrial property worth $1.08b in Chai Wan up for sale
It can be redeveloped into a mega logistic and data centre.
3-storey residential block at Grampian Road up for sale by public auction
It has a reserve price of $404.25m.
82.1% undivided shares of Yee Lin Mansion launched for collective sale
It will be sold via expression of interest.
Grade A office vacancy climbs to 9.6% in July
JLL said it's the traditional low season for the office leasing market.
Sun Chun Street property in Tai Hang sold for $588.7m: JLL
The property was sold through public auction.
$175m-worth of residential units in SOHO district up for sale
It will be sold on an "as-is" basis.
Retail leasing momentum rises in July: JLL
This is as retailers grow more confident in the business environment.
Residential sales in July dampened by rate hikes
The average mortgage rate reached 2.5% by the end of the month.
Net effective rent of HK offices drop 0.1% MoM in July
Decline in rents was also observed across major office submarkets.
Industrial property leasing market remains subdued in July
Hong Kong suffered a spillover effect from lockdowns in Shanghai.
HK cuts hotel quarantine period down to 3 days
This will be followed by a 4-day medical surveillance.
Property at Sun Chun Street up for public auction
The property has a reserve price of $588.7m.
Commentary
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