Retail shop in Mong Kok sold for $11m with profit of around HK$3.5m after purchase for only 3 months

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27th September 2021 – (Hong Kong) Retail shop prices rebounded sharply from low levels, and some investors took advantage of the trend to speculate. One of the ground shops on Sai Yeung Choi South Street, Mong Kok where many pet shops are located has recently changed hands for about HK$$11 million, which is 47% higher than the purchase price three months ago. According to market sources, the above-mentioned transaction was for Shop H2, G/F, Nos. 258-260, Sai Yeung Choi Street South, Mong Kok. The shop is located near Prince Edward Station, which is a section of “Goldfish Street”.

The shop has an area of ​​about 185 square feet and a transaction price of about HK$59,459 per square foot. The shop is currently rented by Sang Sang Aquarium for about HK$25,000 a month, with a return of about 2.72%. The shop is now owned by FRIEND CORPORATION LIMITED. In June this year, the company bought the shop for HK$7.5 million and only held for about 3 months. The book value of this change of hands has increased by about HK$3.5 million or 47%.

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