2025-02-21 28Hse Editor
Swire Properties (1972) has introduced a limited-time offer, slashing prices on 10 twin car park spaces in Taikoo Shing, Quarry Bay, by about 60 percent, bringing the starting price down to HK$1.37 million.
Originally priced at up to HK$3.6 million, the developer has reduced the price range to HK$1.95 million to HK$2.15 million per set. Additionally, buyers will benefit from a 5 percent per annum cash rebate for six years.
After accounting for the discounts and rebates, the twin parking spaces are now going for between HK$1.37 million and HK$1.51 million. Local media reports confirm that eight of the 10 sets have already been sold.
Swire states that these time-limited discounts align with their strategy to liquidate non-core assets to raise funds.
In retail property news, Caidie Bakery, a prominent chain from Anhui Province with over 300 stores in Eastern China, is venturing into the Hong Kong market by renting a space in Causeway Bay. The bakery will pay a monthly rent of HK$280,000, or HK$140 per square foot, for the 2,000 sq ft space on the ground floor of Luen Tai Building on Wan Chai Road. This rate is in line with previous leases but marks a departure from the typical telecom service tenants in this area, notes Centaline Property Agency.
This move by Caidie Bakery follows other mainland food and beverage outlets expanding into Hong Kong, such as Mixue Bingcheng, which opened its first shop in Mong Kok last year and filed for a public offering in Hong Kong.
In residential development news, the Planning Department has shown no objection to a proposal to construct 789 houses on a plot in Yuen Long, which is nearly double the original plan of 260 luxury houses. The site, previously owned by China Evergrande (3333) and later acquired by US investment firm Oaktree Capital, is under review by the Town Planning Board.
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