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Victory City acquires a street shop on King’s Road for about HK$160 million

Posted by Teddy Lam on August 4, 2018
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According to market news, street shop 13 (2,400 sq ft) at 480 King’s Road, North Point has been sold to Victory City International Holdings Limited for HK$161 million (HK$67,000 per sq ft), an increase of HK$6 million over the transaction price paid in 2012. The property is currently leased to a bakery and a pharmacy for a monthly rent of HK$343,000 in total, representing a yield of 2.5%.