Row of shops in Sai Kung on sale for $280 million

^{The row of shops in Sai Kung that are on the market for $280 million}

A row of shops on the ground floor of Sai Kung Town Centre, No. 22-40, Fuk Man Road, Saigon, with a total area of ​​about 7,434 square feet is on the market with an estimated price of about HK$280 million. It will be sold in the form of a joint lease. The property is currently leased by five groups of tenants, with the longest lease term until the end of 2022. The shop tenants are diversified, including vegetable shops, real estate agents, mobile phone repair shops, engineering companies, etc. Among them, the tenant who accounts for the largest shop by floor area is the PARKnSHOP supermarket chain, whose supermarket has an area of ​​about 6,316 square feet. The overall monthly rental income of the shop is about $530,000.

According to data, the shop owners purchased the shops for $88 million in May 2010. If they were sold at the intended price of $280 million, the book profit would be $192 million, and the property would have appreciated 2.1 times in 10 years.