"HK Property" Minsha purchased the top floor office property of SINO LAND Center in Mong Kok for HKD 30 million, with a 25% depreciation over fourteen years

According to market news, MinShe Service Center recently purchased the entire 21st floor office space of Sino Center at 582 to 592 Nathan Road, Mong Kok for HKD 30 million. The original owner bought it for HKD 40 million in 2012 and has held it for nearly 14 years, resulting in a paper loss of HKD 10 million or a depreciation of 25%.

The property has a construction area of approximately 4,643 square feet and was listed for sale last year at an asking price of HKD 35 million, but was just sold for HKD 30 million, with an average price per square foot of about HKD 6,461. The property is currently divided into 4 parts for rent, generating a monthly rental income of HKD 114,000, with a rental yield of about 4.6%; it is reported that the buyer is MinShe.

Information shows that MinShe was established in 2002 and is a registered charity in Hong Kong that provides support to low-income families and the elderly