WINFULL GP sold two shops in Dajiaoju for 38 million yuan, holding the inventory for 7 years with a loss of 87 million

WINFULL GP (00183.HK) sold two ground floor units of Shape . Star Residence in Tai Kok Tsui for HKD 38 million, incurring a significant loss of HKD 87 million after holding the property for 7 years, a depreciation of 69.6%. The buyer is the Hong Kong Children's Choir, which owns the upper unit.

According to the information, the ground floor units 1 and 2 of Shape . Star Residence at 1 Yeung Shun Street, Tai Kok Tsui, along with two advertising billboards, have a total construction area of approximately 4,877 square feet, with a transaction price of HKD 38 million, resulting in a price per square foot of about HKD 7,792. The units currently have two tenants, including a Japanese city and a building materials retailer, with a total monthly rent of HKD 152,000, yielding a return rate of approximately 4.8% based on the transaction price. It is reported that the property will be sold on an "as is" basis