The sale of Hedong Garden only caused a stir in later generations, except for its extremely high and amazing sale price. Also because it is an ancient building.
There are not many ancient buildings in Hong Kong, so any changes to each one will attract great attention. For example, in 1998, the Hu family sold Haw Par Villa to Li Chaoren.
In order to renovate the community, Li Chaoren decided to demolish the former Haw Par Villa, which caused great dissatisfaction among Hong Kong citizens. As a result, the Li family's reputation in Hong Kong has not been very good in recent years.
In the end, Li Chaoren had no choice but to compromise and only demolish half of it, keeping the core building of Haw Par Villa as a tourist attraction. Other areas have been built into residential areas.
Ha Tung Garden actually has the same problem as Haw Par Villa. However, compared to the fact that the Hu family sold the Haw Par Villa, Li Chaoren demolished it.
The He family wanted to demolish Hedong Garden and turn it into a real estate project. This proposal was strongly opposed by Hong Kong's historic building conservation team.
News reports at the time were that the Hong Kong government also proposed a cash compensation package of 3 billion, but it was rejected by the He family. Because the He family’s price is 7 billion.
Later, one wanted to demolish it and the other strongly opposed it. In the end, the two sides were in a stalemate for a while. In the end, the He family directly sold Hedong Garden for a high price of 5.1 billion. The Hong Kong government immediately announced that it would strictly enforce the stamp duty on this transaction.
After the transaction is completed, the buyer will pay as much as 1.1 billion yuan in various taxes and fees. But even this did not shake the buyer's determination, and in the end this unprecedented transaction was completed.
Then Hedong Garden was demolished and turned into a real estate project where developers can earn tens of billions. Of course, with the current price of real estate in Hong Kong, this project will definitely not make so much money. Even if a deal is reached in the end, it won't be as exaggerated as it will be in later generations.
After all, Hong Kong's housing market has fully recovered in 2015, and prices are even crazier than before the financial crisis. Houses in wealthy areas on the top of the mountain cost more than one million yuan per square meter.
However, even though Hong Kong real estate is still struggling in the quagmire, the transaction of Hedong Garden is still attracting the attention of many people. After all, the entire Hedong Hedong Garden covers an area of 124,000 square feet, approximately equal to 11,160 square meters, of which more than 5,500 square meters of buildable floor area are available. This piece of meat is absolutely fat and oily.
And another important point is that Hong Kong people believe in Feng Shui, and there is no doubt about the Feng Shui of the location of historical buildings. You must know that the Ho family was once the first family in Hong Kong. Even now, the Ho family is still very wealthy. Hong Kong's gambling king is a member of this family. In this way, the sale of Hedong Garden is still a very hot topic even now, and there is no shortage of buyers.
"The He family wanted to demolish Hedong Garden for real estate development a long time ago, but the government never agreed. After the financial crisis, the matter was not mentioned again.
Now that Hong Kong's economy is beginning to recover, the real estate market is also recovering. The government also needs some large real estate projects to stimulate the market, so the He family once again proposed to develop Hedong Garden, but the officials were very stubborn about the demolition of Hedong Garden and still did not agree. So the He family announced that they would sell Hedong Garden. "Sixth Uncle explained.
Yang Dongxu nodded. This sentence was probably released in a circle. It is normal that he has not received the news for the time being. And it is very possible that the He family does not necessarily want to sell Hedong Garden, but is just using this trick to put pressure on the government.
After all, due to one country, two systems, the management of private property in Hong Kong follows the principle of the sanctity and inviolability of capitalist private property.
Moreover, the Ho family is a big family in Hong Kong. While it is deeply rooted in Hong Kong, it also has many involvements. So if the government doesn't agree, the He family doesn't dare to force it.
But selling to others is different, as long as all the procedures are completed and the handover is completed. Whether the person who buys Ho Tung Garden demolishes Ho Tung Garden or preserves this ancient building depends entirely on the buyer's mood, and it is not easy for the Hong Kong government to intervene.
"The people who bought Hedong Garden are probably rushing to demolish the previous buildings and develop a top real estate project to make a profit. If the He family really makes a move, it would be a bit uneconomical for me to buy it." Yang Dongxu thought about it and said helplessly. .
The He family has too many involvements in Hong Kong and cannot be forced to do so. Yang Dongxu also has a lot of assets in Hong Kong. He has the nickname Yang Bancheng.
After Li Chaoren demolished half of the Haw Par Villa, he was scolded by people all over Hong Kong and had to stop. If he dared to demolish the building after taking over Hedong Garden, his reputation would probably be even worse than that of Li Chaoren now.
However, if Hedong Garden is purchased and not demolished, the profit potential of real estate development projects will be limited. After all, as the only building currently on that land, Hedong Garden occupies the most essential part. If it is not demolished, it will be a big obstacle to the design of other houses in the entire project.
So even if the He family really wants to sell Hedong Garden, if he buys it. For the sake of reputation, if you consider not demolishing Hedong Garden and building a community on other land, the profit margin is actually about the same as developing other real estate projects.
In addition, after purchasing Hadong Garden, whether it becomes a scenic spot like Haw Par Villa now, or as the owner of Hadong Garden, it is very troublesome to repair and protect the ancient buildings. Yang Dongxu is undoubtedly most afraid of trouble.
Of course, the limited profits are only relative to the current housing prices. If we can win the Hedong Garden within the next two years. Even if the previous buildings are not demolished, some villas will be built on other open spaces.
When Hong Kong real estate takes off, the profits earned there will still be huge. After all, the current housing prices in the wealthy areas on the top of the mountain are only between 100,000 and less than 200,000 per square meter. But within a decade or so, housing prices soared to one million per square meter.
There is at least a return on investment of seven or eight times, and this return is a return of seven or eight times based on a huge investment base. For example, based on the current house price of 2 billion yuan as the base price, and almost 2.5 billion yuan as the ceiling price, it is not a big problem to acquire Hedong Garden.
While preserving the ancient buildings without demolishing them, we can save a lot of money by discussing the tax issue with the Hong Kong government. Including the cost of developing other real estate projects, the total investment of 3.5 billion can be used freely.
After more than ten years, an investment of 3.5 billion can earn at least 20 billion in profit after deducting the capital, and this is only a conservative estimate. By then, if done properly, the profit margins can be even greater.
Of course, if the garden can be demolished and the land is properly re-planned, the profit earned can be increased to at least 5 billion.
"So you're not going to take action?" Uncle Six couldn't help but feel a little disappointed. In fact, he told Yang Dongxu the news before he was sure whether the He family really wanted to sell Hedong Garden.
Uncle Six just wanted to see if Yang Dongxu could really take over Hedong Garden, and then make profits in other ways while preserving the ancient buildings.
This is undoubtedly the best of both worlds. As an old man from that era, he is still quite nostalgic. Especially since both the former owner of Haw Par Villa and the older generation of the He family are friends.
In fact, if the funds were not allowed, if the He family really sold Hedong Garden, he would take action to buy it. At that time, aside from making money, he would be satisfied as long as he could keep his capital by building a few villas elsewhere.
"It's too early to tell whether to sell or not. The Ho family may just put a smoke bomb to put pressure on the Hong Kong government. Let's see, it will be too late when they actually want to sell." Yang Dongxu said with a smile.
It's not the transaction that's at stake, let alone such a large transaction. You certainly can't let your opponent grasp your own ideas. And there is really no need to rush this deal, it doesn’t matter if it takes a year or two.
"If you are willing to preserve the ancient building and not demolish it, no matter whether the He family set off smoke bombs this time, I will help you talk about it." Uncle Liu said.
Yang Dongxu glanced at Uncle Six in surprise, but seeing the look on Uncle Six's old face, he clearly understood. So he nodded and stopped looking for excuses: "Then ask, if the other party is not a lion, find a time to talk."
Since I came to Hong Kong to see Uncle Six, I would definitely not stay in a hotel at night, so I chatted with Uncle Six for a while after dinner. Yang Dongxu stayed overnight in his sixth uncle's old house.
"Are you interested in Hedong Garden?" Zhou Ya sat in front of the dressing table and applied some skin care cream. The little guy played too crazy in the yard in the afternoon and was already fast asleep.
Zhou Ya had spent a lot of time in Hong Kong before, so she was very familiar with the situation in Hedong Garden even if Yang Dongxu didn't say it.
"I am not interested in Hedong Garden, but I am optimistic about Hong Kong's future real estate projects. Chen Xin has a large sum of money with nowhere to spend it, so I am going to buy Hedong Garden with private investment and make a long-term investment. ." Yang Donggu said.
“What do you expect Hong Kong real estate to become?”
"Looking at the mainland's housing prices will definitely skyrocket again after this regulation, and Hong Kong's geographical location is so special that housing prices here will definitely be higher than in the mainland.
Therefore, even if Hedong Garden cannot be demolished by then, the profit from the development of the buildable area on the land alone will be very considerable. Yang Dongxu said casually.
Zhou Ya nodded: "How are things going with the rich family?"
"Dade Real Estate filed for bankruptcy, and more than half of its previous assets were repossessed by banks and then divided up by other real estate companies. The industry in Hong Kong is also in shambles.
However, Fu Dehai followed me and bought a lot of houses in Hong Kong. Even if he went bankrupt, he could still get a sum of money. In addition, Fu Chaming also has his own jewelry company. If he doesn't mess around, it will not be a problem for the family to be rich. "
A skinny camel is bigger than a horse, so this time the rich family suffered a huge setback. But even if the assets in hand are greatly reduced, they are still beyond the reach of ordinary people.
In particular, Fu Dehai currently holds at least hundreds of millions of funds in his hands. Although compared with Dade Real Estate's previous market value of tens of billions, Fu Dehai is worth tens of billions. Only one percent of the poor are left, but even one percent has 100 million, which is beyond the reach of many people.
Moreover, Fu Decai still has shares in Haina, and the jewelry store owned by Fu Chaming is now worth more than 2 billion. So rich people are still billionaires even if they go bankrupt.
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