HK commercial / industrial space real estate agents?

Have some interest in considering to rent a place in a building on one of the more industrial parts of town (as a flat) - Wong Chuk Hang, Aberdeen etc.


Does anyone have reccs for agents that deal in this niche?


thanks

If I can help you, please let me know. I own and operate a Century 21 office out of Sheung Wan, Hong Kong island but I work everywhere and I had been a licensed realtor in Canada for over 30 years. You can reach me at: 6061 0928 on any real estate needs in Hong Kong. I speak both English and Chinese.

The upwards pressure is off... in the Industrial / comm'l sector


(from today's PROPERTY section of the SCMP):


"In the industrial market, sales are down 80 percent since the govt annoounced a number of measures, including a doubled stamp tax on property purchases on Feb. 22nd."


"Prices are down more modestly by 5 to 8 percent, according to Midland IC&I's Alvan Chan: 'Short-term investors have been forced out of the market, leaving just end-users and long term investors. And market sentiment has not improved in recent months.' "


Some ST investors are being forced to sell where they bought pre-sale projects, and are cutting prices :


Billlion Sq. in Tsuen Wan will be completed in July or August:

Old prices- : $4,300 - 5,100 psf, in Feb

New prices : $3,800 - 4,400 psf, now


No signs of defaults by buyers, says Colliers


ORIGINAL PRICE?:


Billions Sq., TW - It's a Big Ticket:

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Posted: Oct 05, 2012 (Views: 205)

Price : 15.61M HKD (Sale)

Net Area : 4,173sq.ft : $ 3,740 psf

New Territories, Tsuen Wan

3 Hoi Shing Road

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http://hongkong.asiaclassified.com/en/Billion+Square+.,+4173+sqft--506e9491e62d6c474d00988d


Some were cheaper - around $5 million:

http://www.cnp.hk/eng/tran_prop.php?district=NTW&building=BILLION


Image: http://www.primeoffice.com.hk/photo/b14138_1.jpg

"Billlion Sq. in Tsuen Wan will be completed in July or August:

Old prices- : $4,300 - 5,100 psf, in Feb

New prices : $3,800 - 4,400 psf, now"


That's a 12-13% drop in prices.


As the building is not finished there isn't any rental information for this property but using HK$14 psf pm(being the lowest asking rent for a newish office building in Tsuen Wan) that gives a gross yield of 4.1% (14x12/3800 + SD) which would probably net out to about 4% after agency, vacancy and a few outgoings before a tenant moved in.


Obvously more homework would be needed and I think it is too soon to buy in, but it's encouraging.


"No signs of defaults by buyers, says Colliers"


Pity.

ti:

"No signs of defaults by buyers, says Colliers"

Pity.

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probably the article is intended to get some buyers in, and prevent any defaults