Yeung Hin Strategy Sells Henderson Headquarters for One-Year High

Yeung Hin Strategy sold a self-used unit at Henderson Center in Sham Shui Po for HKD 99.715 million, with a price per square foot of approximately HKD 18,500, setting a one-year high. The property, with an area of 539 square feet, was originally purchased at a price per square foot of approximately HKD 25,170, but was sold at a price per square foot that is roughly 70% of that level, resulting in a book loss of about 26%.

Core area commercial buildings have been recorded in high-priced transactions despite the market downturn. Hong Kong-listed company Yongheng Strategy (0764) sold its self-used headquarters unit at Sirius Centre in Central for HK$99.715 million, at a price of about HK$18,500 per square foot (approximately HK$18,200). This price is the highest recorded in the past year for the building, and approximately 14% higher than current market prices, with the buyer believed to be a mainland Chinese businessman purchasing it for his own use. The property, consisting of units 1209 to 1211 at Sirius Centre, has an area of about 539 square meters and was sold "as is", achieving a record-breaking price per square foot. The transaction is part of Yongheng Strategy’s portfolio of self-used properties. As per their public announcement, the property was purchased by Stream Global Trading Limited, wholly owned by Chinese businessman Chang Qing, who primarily engages in investment and holding activities. Local property market analysts note that these units enjoy a splendid sea view and are of high quality, with a market average price per square foot ranging from HK$12,000 to HK$15,000. This latest transaction value per square foot is significantly higher, not only surpassing market values by about 14%, but also establishing a new record price per square foot for the building over the past year. Sirius Centre has only seen around three transactions in the past year, with prices between HK$12,000 and HK$15,000 per square foot. Yongheng Strategy acquired a half-floor of the building (including units 1 to 3 and 9 to 11) for HK$322 million in April 2017, with each square foot purchased at about HK$25,170. Compared to this purchase price, the current transaction price is about 27.7% lower, resulting in a paper loss of about 26% for holding these properties for nine years. The proceeds from the sale will be used to repay existing first and second mortgages on the building. The sale requires approval from a special shareholders' meeting and is expected to be officially completed by February 26, 2027. Yongheng Strategy mainly operates in asset sales, real estate investment, lending, jewelry design and sales, and golf club operations.

Yongheng Strategy, a Hong Kong-listed company, has sold its self-used headquarters at Sirius Centre in Central for HK$99.715 million, completing a high-priced transaction despite market sluggishness. The 539 square meter property, located alongside a splendid sea view, was sold at HK$18,500 per square foot, breaking the annual price record for the complex. The buyer is Stream Global Trading Limited, a company owned by Chinese businessman Chang Qing who specializes in investment activities. Market analysts note this price is approximately 14% higher than current market values, reflecting strong demand for high-quality office spaces in the central business district. The property was originally purchased by Yongheng Strategy for HK$322 million in April 2017, resulting in a nearly 27.7% decline in price per square foot and a 26% paper loss over nine years. The proceeds from the sale will be used to repay existing mortgages. Additionally, the transaction requires approval from Yongheng Strategy's shareholders and is expected to be finalized by February 2027. Yongheng Strategy's business activities span financial asset sales, real estate investment, lending, jewelry design, and golf club operations.

Yongheng Strategy, a Hong Kong-listed company, disposed of its self-owned headquarters at the Sirius Centre in Central, achieving a record-high transaction price of HK$99.715 million, which translates to HK$18,500 per square foot, the highest price in the past year for this building. The buyer, Stream Global Trading Limited, reportedly owned by a mainland Chinese businessman, Chang Qing, entered the market at a premium of about 14% above the current market price due to the superior sea view of these units. The property, comprising units 1209-1211, was purchased by Yongheng Strategy in April 2017 for HK$322 million, making the current sale price about 27.7% lower than the original purchase price, resulting in a 26% paper loss over nine years. The company intends to use the sale proceeds to repay existing mortgages. Approval from shareholders and completion of the transaction by February 26, 2027, are necessary. Yongheng Strategy's business activities include asset sales, real estate investment, lending, jewelry design, and operating golf clubs.