---
title: "The LIPPO Center was sold for 29 million, with the original owner entering the market 5 and a half years ago, incurring a loss of 53.8 million"
description: "Two properties in the Golden Bell LIPPO Center have recently changed hands. The first property, Rooms 511 to 512, was sold for HKD 29 million, while the original owner purchased it for HKD 82.8 millio"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/218350408.md"
published_at: "2024-10-30T13:46:40.000Z"
---

# The LIPPO Center was sold for 29 million, with the original owner entering the market 5 and a half years ago, incurring a loss of 53.8 million

> Two properties in the Golden Bell LIPPO Center have recently changed hands. The first property, Rooms 511 to 512, was sold for HKD 29 million, while the original owner purchased it for HKD 82.8 million five and a half years ago, resulting in a paper loss of HKD 53.8 million and a property depreciation of 65%. The second property, Room 3 on the 33rd floor, was sold for HKD 42.17 million, with the original owner holding it for 18 years and making a profit of HKD 16.5532 million, reflecting a property appreciation of 64.6%

The commercial property market has recorded another significant loss case. Market news reveals that in the Lippo Centre, Rooms 511 to 512, located in Admiralty, with a construction area of approximately 2,199 square feet, was recently sold for HKD 29 million along with the lease, averaging HKD 13,188 per square foot. The original owner purchased it in March 2018 for HKD 82.8 million, with an average price of HKD 37,653 per square foot, resulting in a loss of HKD 53.8 million upon resale, a property depreciation of 65%.

It is understood that the property is currently leased by a listed company, with a monthly rent of HKD 93,500, and the lease term extends until May next year, plus an additional 2-year renewal. The new buyer is expected to be an investor, anticipating a return of 3.9%. Industry insiders indicate that the unit is located on a low floor, has a good view, overlooking part of the sea, and since the unit size is in demand in the market, it is believed that leasing has a certain level of security.

Additionally, in Lippo Centre, Room 3 on the 33rd floor, with a construction area of approximately 3,124 square feet, was recently sold for HKD 42.17 million, averaging HKD 13,500 per square foot. The original owner purchased it in May 2006 for HKD 25.6168 million and has been using it personally, holding the property for 18 years with a paper profit of HKD 16.5532 million, a property appreciation of 64.6%. The unit has a usable area ratio of 70.29%, offers a mountain view, and is sold with vacant possession, with a market rental value of HKD 45 per square foot. The new buyer is an investor, expected to yield about 4%

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.