Here's the biggest industrial property sold in 3Q14

It's worth a whopping $1.08b.

About 15 major transactions of over HK$30 million were concluded in Q3/2014 for a total consideration of HK$3.1 billion, a 36% and 12% increase respectively when compared with the last quarter.

According to a research note from Savills, this reflects continued interest from both end users and investors looking for big ticket premises.

The largest industrial transaction over the quarter was the purchase of Camelpaint Centre in Kwun Tong for HK$1.08 billion, most likely for long-term investment as the building has just been renovated.

Other significant deals closed over the quarter include the sale of Tungtex Building in Kwun Tong (105,833 sq ft) to a long-term investor for HK$485 million (HK$4,583 per sq ft), and the sale of the site at 43-45 Tsun Yip Street (max GFA 110,030 sq ft) in Kwun Tong to New World Development for HK$328 million (AV of HK$2,981 per sq ft) for its redevelopment potential.

Here's more from Savills:

The largest warehouse transaction over the quarter was the purchase of Mineron Centre in Fanling for HK$515 million, based on its long-term redevelopment potential.

With revitalization and redevelopment of warehouse/industrial premises proving increasingly popular, some vendors simply sold their holdings to investors eyeing the redevelopment potential of their premises, meaning tenants of these buildings were forced to relocate once these deals were realized, creating even more demand in an already tight market.

One example of this was Oriental Logistics Centre (210,000 sq ft) whch was sold for HK$750 million to an investor looking at its redevelopment potential.

The owner occupier, Oriental Logistics, was rumoured to have leased back the space for three years, after which it needs to either relocate or cease operation.