Swire Properties (1972) is offering a time-limited discount of around 60 percent on 10 sets of twin car parking spaces in Taikoo Shing in Quarry Bay, with the cheapest one at HK$1.37 million.
The developer lowered the prices to a range of HK$1.95 million to HK$2.15 million per set and is offering cash rebates of 5 percent per annum for six years.
After all adjustments, the 10 twin car parking spaces are now priced from HK$1.37 million to HK$1.51 million, versus the original price of up to HK$3.6 million.
Eight of the 10 sets are already sold, according to local media.
Swire responded that the offers are time-limited and are in line with the developer's strategy to dispose of non-core assets for financing.
Meanwhile, a mainland bakery has rented a shop in Causeway Bay, making it another mainland food and beverage outlet tapping into the Hong Kong market.
Caidie Bakery will operate on the ground floor of the Luen Tai Building on Wan Chai Road, Centaline Property Agency said.
The monthly rent is HK$280,000, or HK$140 per square foot for an area of about 2,000 sq ft for a three-year contract.
The new rents are expected, as the previous leases ranged from HK$140 to HK$150 per sq ft.
But compared to the previous tenants like telecom services providers, it is rare for the shop in Causeway Bay to be rented to a food & beverage business, said Centaline.
Making and selling various kinds of pastry and Chinese cakes, Caidie is a leading bakery chain from Anhui Province. Caidie has more than 300 directly managed stores in Eastern China.
It is the first attempt for Caidie to enter the Hong Kong market, following a series of food and beverage peers from the mainland.
The fruit tea chain Mixue Bingcheng, for example, opened its first shop in Mong Kok and applied to go public in Hong Kong last year.
In other news, the Planning Department showed no objection to a proposal for building 789 houses on a plot in Yuen Long, 1.9 times more than the original plan, which aimed to offer more than 260 luxury houses, including one unit of about 250,000 sq ft in floor area.
The site was once owned by the embattled China Evergrande (3333) and later seized by US investment firm, Oaktree Capital.
The Town Planning Board will review the new proposal today.
Ten car parks are on sale at the blue-chip estate. Sing Tao
