Commercial, residential site draws 25 bids from developers

Find out how much they cost.

According to Barclays, the tender for one commercial site and one residential site drew 25 bids from developers.

Located at the junction of Hang Yip St, Wai Yip St and Yan Yip St in Kwun Tong, the commercial site provides a total of 660,307sf GFA.

Here's more from Barclays:

Similar to another commercial in Kowloon Bay, won by Swire Properties back in October 2013, this site is restricted from being re-sold on strata-title.

Surveyors put the estimate of the land price at HK$2,641- 3,962mn or HK$4,000-6,000psf. The site received 12 bids from developers including Cheung Kong, NWD, Sino Land, Swire Properties and Wheelock.

The tender for a smaller 26,889sf GFA residential site in Fo Tan, Shatin drew 13 bids from developers like Sino Land, Emperor International, HKR, and Wheelock. Without any land sales conditions, surveyors estimate the land site could fetch HK$143-220mn, which implies an AV of HK$5,300-8,179sf.